Folklore consists of the following components:
1. Once upon a time (or equivalent)
2. Problem to be solved
3. Number 3, 7, 9 or 12 characters/events/ items in the story
4. Good wins over bad/evil
5. Lesson to be learned
6. Happy ending.
Folk tales: Add everyday people doing everyday activities
Fairy tales: Add royalty and magic.
Tall tales: Add exaggeration; funny components; larger than life characters