The term 'Fair-Haired Wells Race' refers to the Eloi, a fictional species of human-like creatures featured in the 1895 novel The Time Machine by H.G. Wells. They are described as being beautiful and graceful, with fair hair and skin. They live in a utopian society, where they are provided with all their needs and have no need to work or worry about anything. The Eloi are the descendants of the human race, having evolved over thousands of years into a more peaceful and carefree species.