The Fairy Godmother Story was written by a client of Tara Brach. She was inspired in her own therapy by the awareness that she had survived something overwhelming as a child and only now was able to go back and "metabolize" what happened decades later. The story serves to de-pathologize Parts (or their "symptoms") as we recognize that these Parts were born as a "solution" to get through tough times. Our Parts continue to protect us by repeating their old survival strategies (often conceptualized later as "symptoms") until we have the stability and support to be able to "process" and move beyond old injuries and the old strategies for surviving them (aka "symptoms").
IFS therapist Derek Scott from Canada tells this beautiful story in a compelling 7 minutes that starts at minute 24:30 of this video.