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Five Children and It is a children's book by Edith Nesbit, first published in 1902. It is the first of a trilogy.
The five children, brothers and sisters, are:
"It" is the Psammead: see below.
Spoiler warning: Plot or ending details follow.
Like Nesbit's Railway Children, the story begins when a group of children move from London to the countryside. While playing in a gravel pit soon after the move, they uncover a rather grumpy, ugly and occasionally malevolent sand-fairy known as the Psammead who is compelled to grant one wish of theirs per day. (The name Psammead appears to be a coinage of Nesbit's, from the Greek ψάμμος "sand" after the pattern of dryad, naiad, oread, etc.).
The children's wishes are:
Almost all effects of wishes end at sundown.
The book was clearly originally intended to leave readers in suspense: it ends
The story was continued in The Phoenix and the Carpet (1904) and then The Story of the Amulet (1906), in both of which the same characters reappeared.
In 1991 the BBC turned the story into a TV movie. In the UK it was released under the story's original title; in the USA it was released as The Sand Fairy.
A cinematic movie, starring Kenneth Branagh, Zoë Wanamaker, and Norman Wisdom, with Eddie Izzard as the voice of the Psammead, is due for release in 2004.