Drilling down further, we have
fairy tales. As these are stories, all fairy tales are essentially myths,
though fairy tales appeal to a broader culture instead of a highly-specific
one. Fairy tales have been stripped of their specific place and character names
to appeal to as wide an audience as possible.
Urban legends share a lot in common
with fairy tales, though they can reclaim some of the specificity with actual
names to be more mythic. The urban part is more of a reference to to the time
period. These are modern-day stories. The terms urban legend and urban myth
differentiate these stories from ancient cultures, and show that the ancients
are not the only ones with culturally relevant stories.