The underground is the domain of the dwarfs, who guard its treasures. They can lead to great riches, but never willingly. They must be tricked to reveal the hidden treasures of the earth. In their contact with humanity, they are mischievous and love to play tricks.

Many tales of the Water Man are about his loneliness and goodwill towards humans. He sometimes saves or kidnaps young maidens or children, is kind to them and offers them a wonderful life with great treasures to entice them into staying with him.

In Slovenian folklore there are countless tales of Povodni mož/Water man, sometimes called Gestrin. He is a water spirit, often described as half man, half fish, who can change his appearance on land and may play mischief on humans.

The white serpent / bela kača occupies a significant place in Slovenian mythology. Known mostly as the guardian of great hidden treasures,  it is a powerful magical being, that can be benevolent towards mankind, rewarding kindness and good deeds.