Oh, anything that has the "lovecraft" and "fairytale" tags is already off to a great start. I love the distortion you get upon an enemy appearing. The diary page about the water was fascinating, the idea that the kid *always* played in he woods, teetering at the edge of death. The song you used was great, and so were the children's drawing graphics. I wish the fairy in the circle's dialogue could change after enountering the undine, maybe?
My only complaint was that in the undine's segment, it took me quite a bit to notice she couldn't drown you if you lured her to one edge of the bridge then went to the other, as it's not often faux 3D graphics account for height when measuring hitboxes. It wasn't clear there was enough space to pull that trick.