That would depend on what your essay is about. Is it a persuasive essay or simply a retelling of the plot?
You could, for example, compare the fairies in MidSummer to another mytical creature as I have my English students do.
If that is your essay, your outline may look something like this:
I. Thesis - The fairies in MidSummer Night's Dream are much like Merlin in Camelot, because they all have the ability to do magic, travel through time, live and behave like humans, and play pranks on those around them.
II. Use a topic sentence and 3-5 more sentences about Merlin and Fairy ability to do magic.
III. Topic sentence and 3-5 more sentences about time travel with the two creatures.
IV. Topic sentence and 3-5 more sentences about being like humans and playing pranks.
V. Conclusion- Summarize your thesis and main points and tell us how you proved what you set out to prove in the paper.