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Meaning of little people

lit'tle peo"ple

Pronunciation: [key]
  1. (in folklore) small, imaginary beings, as elves, fairies, or leprechauns.
  2. the common people, esp. workers, small merchants, or the like, who lead conventional, presumably unremarkable lives.
  3. small children.
  4. midgets or dwarfs.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.