So , basically , Frisk died and couldn't use the load screen to restart since they didn't have a save point at all , then they learned they can become a ghost and were like "time to make myself look super cute" and not just - _ -
And they call themselves Fae.
There is probably much more to this but that is my guess for now , lol.
I wouldn’t say that’s Frisk as Frisk’s body was gone when they came back, so they probably woke up and left. I don’t think far is Frisk’s soul, but maybe a soul Frisk was carrying, like how Chara follows Frisk, or maybe Frisk just woke up a dead spirit
Yeah , after I've caught up with the story , I do agree that there is more to it than what I already said in my "theory" above (which seems to be completely or mostly false for that matter).
Is... is Fae trans? I only just started reading this but it really looks like it right now, with the sheer euphoria over the ghost body, her soul seeming to come from Frisk’s corpse (probably dragged off to who knows where by Flowey to do who knows what with it) also just the fact she doesn’t just look like a ghost frisk and that she calls herself fae, thats a pretty big give away.
P.S. while I was writing this comment I decided to check the most recent stuff from the comic, and Say frisk walking around, is Fae not trans? awwww... I was excited about it and everything. Though even just with the euphoria thing on this page, it feels very much like gender euphoria stuff.
I'm sorry to disappoint you, but you are right Fae is not trans. On this page, Fae is just happy to have an actual body instead of being a floating soul. Although, maybe a bit idealized, it is what she looked like before she became a ghost.
And you are also right that Fae's soul came from Frisk's body. But I cannot elaborate on that much more before getting into spoiler territory.