This is a character piece by an obscure composer likely intended for pedagogical or salon use. It relies on a simple melodic structure supported by a lyrical accompaniment.
At Henle 2 this is a beginner-level piece, where steady coordination between the hands is the main hurdle. The main demands: a true singing tone, with the melody floating above the accompaniment; careful pedaling — clarity depends on the foot as much as the fingers; and chord voicing — bringing out one note inside a handful of others.
Focus on maintaining a consistent singing tone in the melody while keeping the accompaniment quiet.
Comparable difficulty and character — good candidates for what to learn next.
A level or two down with the same spirit — ideal if this piece is still out of reach.
Where this piece's skills lead: slightly harder works making similar technical demands.
Faily Tales is rated Henle level 2 of 9 — beginner repertoire, roughly ABRSM grades 2–3. In the RCM system it corresponds to about level 3.
You should be comfortable at Henle level 2 — meaning you can already play level 1–2 pieces cleanly. Learning it one level early is possible as a stretch piece, but more than that usually leads to months of frustration.
A typical performance of Faily Tales lasts about 3 minutes.
Faily Tales is available as free public-domain sheet music on IMSLP — the score is linked directly from this page.
Pieces at a comparable difficulty and character include Für Elise by Ludwig van Beethoven, Die Parade der Zinnsoldaten by Léon Jessel, Edelweiss by Gustav Lange — see the full similar-pieces list on this page.