Midnight is referred to as "the biggest 'tween time' of all, according to an episode of the television series "Charmed". In one particular episode, they say that trolls and fairies live in the 'tween': windows, doorways, shadows. The three sisters have pictures they drew as children featuring their fairies"Lilly", and the troll after her. The sisters stopped being able to see their fairy anymore because they became adults who stopped believing in fairies.
This got me thinking about the moment when all children stop believing- Santa Clause, the Tooth Fairy, the Easter bunny. Things children believe in with all their hearts until one day they get a cold dose of reality, and a piece of their innocence is stripped away.