The second oldest theme on Irregular Webcomic!, Fantasy follows the adventures of a humorously inept band of adventurers who are more skilled at getting drunk and burning down taverns than actually completing quests. They have been on an epic quest, given by the Duke, to cross the Orcrift Mountains into the Swamp of Terror and so to the Golden Citadel, to inquire of the great Dragon Sage Ardaxar the possible location of the missing Ruby of Dwarven Might from the arcane Crown of Power. They were given this quest over 3 years ago (in the real world) and have thus far made it to the Orcrift Mountains. Despite one false start, they have not actually crossed them yet.
The Fantasy storyline is supposedly an RPG campaign run by the same group who plays the Space adventure: they are, in fact, real people, but the storylines are only loosely based on the actual ones. The system the game is played with is intentionally inconsistent, being portrayed as at turns GURPS-like, based on old D&D editions and played with d20 rules.
Alvissa, an elven maiden (the group isn't sure if she's really *that* kind of maiden) who is perhaps the only sensible and levelheaded member of the group. She is continuously exasperated by the antics of her fellows. In combat, she is fairly effective with her longsword.
Mordekai: calls himself a lovable rouge and feverently claims to not be a pickpocket. He does know how to pick pockets, and he's good at finding unsecured valuables, but honestly not a thief. He swears.
Lambert, a hobbit, has a very vaguely defined role in the group. He is the person responsible for the infamous hobbit puns that occur about once every 100 strips.
Kyros is a fire mage with a short fuse and a tendency to get everybody killed with his immense splash damage. He has also defeated two balrogs (presumably via the utilisation of his arcane pyromania) and has the ability to cast any spell he desires upon creatures of fire.
Draak is a lovable lizard-man type creature who speaks English only in a monosyllabic dialect, although he speaks very smoothly in his own language, either showing his inability to grasp polysyllabic word structures or a simple inadeptness at learning foriegn languages. He was hired by Lambert as a bodyguard. He and his species are apparently quite smart for their time.
Dwalin is the newest addition to the fantasy team, hastened to join from strong persuasion from Kyros, and is a dwarf, hailing from the secret underground kingdom of Dwergenberg. He speaks with a strong Scottish accent.
Gollum is a character that little is known about, it is most likely to be either Lambert or Alvissa in an alternate personality, but so far the readership has been left in the dark literally as to what the creature even looks like