Absinthe is one of the most notorious alcoholic beverages of all time and as many people are aware, it also goes by the name of the green fairy. This fairy is a metaphor for the artistic inspiration one supposedly has after drinking absinthe. Here’s a decent history of it http://absinthe.msjekyll.com/ wikipedia is also an option, but it’s good to check out a variety of sources in wikipedia’s case, just to be on the safe side http://en.wikipedia.org/wiki/Absinthe.
Essentially absinthe was drunk in the late 1800’s by artists and poets to release their inner muse, the green fairy. This site discusses this in greater detail http://www.absinthefever.com/green-fairy . Many popular artists drank absinthe back in the day, people like Picasso, Oscar Wilde, Monet, …
There have been a few modern pop culture references to the green fairy also. There’s a scene in both the films Moulin Rouge and Eurotrip. Even the Disney version of tinkerbell is suggested by some to be a version of the green fairy.
This is a little visual history of it