Yes, wings can be used on any figure. Just position them at the back in the chest area and then go to "object --> change parent" and pick the figure's chest.

In fact hair and props and poses can be used across all figures. Sometimes poses need to be tweaked a little.

I use V3 and Aiko for faeries. I prefer Aiko because she is smaller and more petite and there are lots of character addons to make her look more pixie / faerie like.

I've never made a male faerie, but I would imagine that M3, or David or even Hiro might work well so long as they weren't morphed up with huge muscles. Faeries are delicate and not "bulky" iMHO.

I do suggest that if you are going to be making faeries for the gallery here, especially if you are looking to use Aiko, that they are well clothed (no boobs or bum showing) and aren't provocatively posed. Aiko tends to look like a "child" in the face with many character packages and even if the boobs are large, if the face looks young it is considered "child porn" according to the TOS of this site.

I love making faeries and because I prefer to use Aiko, I'll never post a faerie image here.

"It is good to see ourselves as others see us. Try as we may, we are never
able to know ourselves fully as we are, especially the evil side of us.
This we can do only if we are not angry with our critics but will take in good
heart whatever they might have to say." - Ghandi