Innate Spellcasting. The dragon's innate spellcasting ability is Charisma (spell save DC 13). It can innately cast a number of spells, requiring no material components. As the dragon ages and changes color, it gains additional spells as shown below.

Red, 1/day each: dancing lights, mage hand, minor illusion

Orange, 1/day: color spray

Yellow, 1/day: mirror image

Green, 1/day: suggestion

Blue, 1/day: major image

Indigo, 1/day: hallucinatory terrain

Violet, 1/day: polymorph

Superior Invisibility. As a bonus action, the dragon can magically turn invisible until its concentration ends (as if concentrating on a spell). Any equipment the dragon wears or carries is invisible with it.

Limited Telepathy. Using telepathy, the dragon can magically communicate with any other faerie dragon within 60 ft. of it.

Magic Resistance. The dragon has advantage on saving throws against spells and other magical effects.