Five Children and It is a children's novel by E. Nesbit. It's a delightful and imaginative story about five siblings-Jane, Cyril, Robert, Anthea, and their younger brother, Peter-who discover a magical creature called the "Psammead" while spending the summer in the countryside.

The Psammead, a grumpy, ancient sand-fairy, has the ability to grant wishes, but there's a catch: the wishes only last for one day. Each time the children make a wish, they quickly realize that things don't always turn out as they expect, leading to a series of amusing and sometimes chaotic adventures. For example, one wish might give them riches, but the consequences often involve more trouble than the children anticipated.

The Psammead, while willing to grant their wishes, is also a bit of a trickster, delighting in the mischief and confusion caused by the children's desires. As the story progresses, the children learn valuable lessons about the nature of their wishes and the importance of thinking carefully before asking for something.

The book is notable for its charming mix of adventure, humor, and moral lessons, making it both entertaining and thoughtful. The themes of responsibility, the consequences of one's actions, and the idea that wishes (or material desires) may not always bring true happiness are central to the story.

Five Children and It is one of E. Nesbit's most famous works and remains a beloved classic in children's literature, noted for its whimsical storytelling and its portrayal of the adventures of children who, while innocent and curious, must learn about the world and themselves through their experiences.