Irony of Magic
Magic is not the fix-all-deus-ex-machina that is typically featured in fantasy novels. In the novel magic is unpredictable and the results are disastrously life altering, as such, magic serves more as a plot device for character development. It is worth noting also that the most powerful wielders of magic aren’t the immortal enchanted beings but mortal wizards. Magic can give immense power to the wielder but it cannot stave off death, and this dichotomy, at least according to Schmendrick, is what makes the gift of magic all the more precious.
Irony of Joy
King Haggard chases after joy--relentlessly hounding and corralling the unicorns in the sea--yet, when he finally manages to round up practically all of them, he finds that he is right back where he began: mirthless, joyless, emotionally empty.
Irony of The Unicorn
The Unicorn is an immortal, wise, and powerful creature, but she is also an aloof, inscrutable, and condescending towards humanity. Despite her seeming indifference though she is not completely unconcerned as she is moved to find out if she is indeed what the hunters say she is--the last of her kind. Her experience of humanity and mortality change her permanently though, and even if she is the only one of her kind to know and understand regret, she is also the only one of her kind to actually finally understand what love means. Unicorns, as a species, despite their wisdom, immortality, and magical ability, understand nothing of the sacrificial, giving nature of love. Being immortal and enchanted beings, the cares of humanity: ambitions, worry, love, regret, and joy--matters that are tied to time and finitude--are all basic components of the human condition and as such, they are completely incapable of comprehending such concepts.
Irony of The Red Bull
The Red Bull, for all its ferocity and power, is a blind, directionless, glorified beast of burden; a mere tool or weapon for King Haggard to use. It is also ironic that despite having herded nearly all the unicorns into extinction/oblivion all it took to defeat it was one enraged unicorn.
Irony of Love
The depiction of love in the novel is a tragic, painful kind, as if to say that love doesn’t necessarily equate to happiness, or that love necessarily will result in a regretful parting or some great and agonizing sacrifice.