The legendary creature known to grant three wishes is the genie, often depicted as a mystical being trapped in a lamp or bottle. In stories like "Aladdin," the genie emerges to fulfill the wishes of the possessor, symbolizing both the power of desire and the potential pitfalls of greed. The concept of the genie reflects deeper themes of fate, responsibility, and the unpredictability of wishes, as the outcomes often depend on the intentions of the wisher.