Why do the fairies have American accents?

They don't live in England...they live in Pixie Hollow near Neverland. They were just visiting the English countryside to help bring Summer to life. BTW - Peter Pan didn't have a British accent:)

Because they're really speaking Fairy Language which is being translated for human ears by the Babel Fish stuck in your DVD player.

The Fairies actually are gringas just like Ahnuld Schwartzenegger. Born and raised yanks, dind't you know?

Do we know for sure whether Never Land is closer to the U.K. than the U.S.? Actually, this would explain why there are Native Americans in the 1950s movie.