The Hedley Kow I am reminded of the book "Mysteries of Harris Burdick" by Christ Van Allsburg which gives us one page illustrated glimpses into this strange magical world (one of which is pictured to the right). These illustrations stir the imagination quickly, sort of introduce someone to this magical world, but leave everything open ended. I like it when fairy tales do this.
Further the Hedley Kow can be one of the funniest stories in the world, if it's told by the right person. However, if the story teller doesn't get the timing right than it will fall flat. In other words the Hedley Kow reminds us that fairy tales are best when they are told.
Growing up in America we seemed to tend to focus on the Grimm's Brothers, and they have good stories, but I've found that the best fairy tales seem to reside on the outskirts of Europe and Asia rather than in their hearts. in places like England. Places where the fairy and the stories about them were important for a long time.
Read "The Hedley Kow" and about other English Fairies.