Though a long standing part of Irish folklore, there is no evidence that leprechauns are real. According to the various myths, they are small, brightly dressed men (either fairies or sprites) who often did work for humans in exchange for goods or lucky fortune. Most notably, it was said if you captured a leprechaun, you could force him to give you his pot of gold.
By definition, myths are traditionally held beliefs or tales that may or may not have any supporting evidence, or that have been greatly exaggerated from their original facts. The leprechaun myth is based in Irish folklore, a body of widely held, but often unsubstantiated tales.
Though often said to be mischievous or troublemakers, leprechauns are also depicted as cobblers as well - often making shoes for the elves. This is evident in the etymology of the word "leprechaun" as it is said to derive from "leith brog(an)", which refers to the fact that leprechauns only made one shoe.