Description
A fairy guard (note the spelling) is the place holder for Princess Joleena. The cycle time is exactly 12 game hours. The placeholder will despawn and respawn a second later at 8am and 8pm. Princess Jolena has a chance to appear both at day and night.
If you kill her she can respawn on the zone timer but I've seen her skip spawns. At the 8am/pm reset if she is dead she won't respawn so if you're close to that time might as well wait to see what happens.