The most common and most likely answer to this crossword clue is the 4 letter word PUCK
I've seen this crossword clue in The Daily Telegraph
P
U
C
K
More clues leading to the result PUCK
- Fairy liquid initially removed from bottle
- Robin needs bravery when second flees
- Mischievous character, one on a slippery path?
- Mischievous fellow to choose one out for you
- Fairy king’s vessel capsized
- Mischievous type caught in UKIP’s toils — I would leave
- A dozen players go after this role in Shakespearean comedy🙂
- Fairy bringing up vessel before king
- Fairy that’s seen on the ice?
- Mischievous character that’s dropped in a face-off
Buddy explains!

The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does PUCK mean?
PUCK noun- A mischievous or hostile spirit.
- A hard rubber disc; any other flat disc meant to be hit across a flat surface in a game.
- An object shaped like a puck.
- A pointing device with a crosshair.
- (camogie) A penalty shot.
- To hit, strike.
- (rural) billy goat