Philippine folklore is truly the source of a distinct Philippine literature. It represents the attempt of people at self-expression. This study is based on the writer's own collection of folklore which she has gathered after five years of travel and research in different parts of the Philippines which included drama and novel. The writer has collected 117 legends and stories from Filipino folklore and were limited to two tribes: the Ifugaos of Montanosa, and the Maguindanaos of the Muslim groups. The study aims to cull also from the legends and stories, the set of beliefs, ideas, and ideals that make for one such philosophy of life.