It doesn't take all the fun out.

Telling your kids you are the real tooth fairy isn't completely bad. It provides many minutes of fun teasing material.
O lost his first tooth. J was pulling her money out to place under his pillow after he went to sleep. I told her that was not necessary. Why, the tooth fairy was coming over to reward Onyx for his little treasure! She rolled her eyes, and tilted her little head to the side to give me The Look. I, enjoying the whole thing kept with the tooth fairy commentary...pointing out that J could single handedly put all tooth fairies out of business with her mindless whipping out of the dollar bills to stuff under toothless children's pillows. What would happen in a world without tooth fairies? Would they be able to find another occupation? Is there a high demand for sneaky little money-bearing fluttering creatures? Could she possibly bear the burden of her guilt?
It was loads of fun.
See there? Letting your kids in on the tooth fairy secret can open up a whole new world of playful jest.
I've got to find some way to entertain myself.I admit not everyone may think this kind of thing is funny. Keep in mind it's coming from the woman who asked her friend's 7 year old son if it was scary to play the Giants in baseball...I mean, how tall were they? And, where did they find the Tigers to bring to the field for his next game? Are tigers really good ball players? Don't they bite?