Rackham was commissioned to illustrate the book following the success of his work on the 1905 edition of Rip Van Winkle. The owners of the Leicester Galleries, Brown and Phillips, instigated a preliminary meeting between Barrie and Rackham in June 1905, and he was given almost 18 months to complete the illustrations.[6][7] The first edition was released in both a trade edition and a larger signed limited edition of 500 copies. Both versions contain 50 colour plates and 3 black and white line drawings,[8] which were exhibited at the Leicester Galleries from November 1906.
In 1912 a revised edition containing some reworking and 9 more black and white drawings was published. This impression also differed in that the plates were placed within the text, whereas the 1906 edition placed all the images at the end of the book, after the text.[9][10]