The Wonder Clock by Howard Pyle
This book of stories in the tradition of fairy tales is absolutely wonderful! The voice of the book is sophisticated and yet it is easy to believe it's a neighbor settling down in front of the fire to tell some tall tales. I intend to share it with First Son for independent reading the summer after fourth grade. Last summer he read The Jack Tales and I think he'll enjoy this one just as much.
The illustrations are very much an integral part of the delight of the book and I would encourage you to find a copy that includes them. I know First Son will pore over them.
I almost like this book more than the Andrew Lang fairy books. There are fewer grim endings and the good always clearly triumphs over the bad. It's still a collection of sophisticated tales, though, so I plan to continue reading the Lang books out loud to the children and let each of them delight in this book independently.
It's such a shame the only library copy is kept in storage so no one can wander the aisles and discover it.