Trickster figures are absolutely universal and they are creations of human collective unconsciousness. And advantageously as well disadvantageously they are not defined (confined) by any single characteristics as they are multifaceted entities, multiform beings and polytropos, with the accumulation of different qualities/features (such as ‘astuteness’, ‘ambivalence’, ‘wit’, ‘clever’, ‘cunning’, ‘tricky’, ‘creative falsehood’, ‘deceitful’ or ‘camouflage’, ‘clown’, ‘coward’, ‘cheat’, ‘humorous’, ‘brave’, etc.) and different forms (gods, demons, humans, animals), depending on the nature and requirement of the narrative programmes. Apart from being the fictional archfigures found in world mythology, folkloric materials and popular culture, the everyday social life of people is filled with the experiences of real tricksters, socially recognized antics of persons who enjoy mixed attributes of cleverness (i.e., good and bad), complementary to the logical rationality and being part of the periphery of their communities and not outside of the communities. Unlike mythological tricksters who are gods, demons, spirits and other supernatural beings, some of them are even known for having voracious appetites for food and bodily pleasure apart from being shape-shifters, rebellious and supreme boundary-crossers, their counterparts in folktales are simple, comprehensible, deliberate violators of social rules and norms, and cultural as well natural. A vast amount of trickster folktales is available in almost all languages across India. However, this study picks a few folktales from the tribal communities of Jharkhand, and the ‘tribal folktales’ is used as a category, a unit for analysis or a semiosphere to investigate the nature and interconnectedness of various elements associated with the trickster folktales. Grouped under four themes based on the actions of the protagonists or antagonists, this study proceeds to construct the nature and availability of oxymoronic figures as fundamental interdependent elements of these tales. This study reveals that the tribal tales have effectively utilized trickster characters to project the concept of altruism, along with the reflection of local culture and their critical interventions. It also highlights the facts that the trickster figures in these tales bring together two opposite worlds for different purposes through border-crossing which is a common phenomenon as far as the tribal trickster folktales are concerned, and it also reflects their worldview of coexistence attitude and perceiving them as an integral part of the ecosystem. Further, this study implies an essential point that the tricksters found in these tribal folktales perform as semiotic generators who mediate between opposites to allow a kind of cultural articulation of different cultural relationships, evaluate their contradictions and renew their moral and ethical values which are essential for the constitution and dissemination of their behaviour. Finally, this study promises to draw a brief sketch of the nature of tricksters and their social function and also unfolds the reason for the speculation that the tricksters are not enjoying heroic admiration and esteem despite their marvellous and altruistic heroic deeds.