I think I give up.
After 4 hours I am getting nowhere, it still way too off from what I wanted to achieve. Im sure that one of your skilled moddeler would be able to do this in few minutes, but I am constantly stumbling over many issues.
I am not able to center wings to the torso.
The model is highlighted on the wrong place.
If I keep the standard fairy torso and remove the texture then it looks like flying miniboobs :/