No. Pennywise the Clown himself is not real.
Throughout the book, It is generally referred to as male, usually appearing as Pennywise. The Losers come to believe It may be female after seeing it in the form of a monstrous giant spider that lays eggs.
Pennywise preys on children. Interactions between clowns and children should be fun and lighthearted, like when a clown performs at a child's birthday party. So when the audience sees Pennywise stalk and murder children in “It,” it creates an even more upsetting moment than if he murdered adults.
“Pennywise the Clown” was never human. He doesn't have a “backstory” in that sense. He was never anything other than what he is in the book.
In their final battle, the Losers' Club was able to kill Pennywise by reducing him to a child-like form as they overcame their fears. In the moments before Pennywise died, his fear is reminiscent of Georgie's own, therefore closing the cyclical nature of Pennywise's murders.
In the novel, It's origins are nebulous. He took the form of a clown most frequently, Mr. Bob Gray or Pennywise, but his true form is an ancient eldritch entity from another universe who landed in the town that would become Derry by way of an asteroid and first awoke in 1715.
Answer and Explanation: No, Stephen King's It is not based on a true story. King had the idea for It when looking at an old wooden walking bridge in 1978 near his home in Boulder, Colorado.
According to It, when humans got scared, "all the chemicals of fear flooded the body and salted the meat". This is why he prefers to feast on children -- their fears are simple, pure, and powerful compared to the complex, pathological fears of adults.
Throughout the summer and their trials against Pennywise and the school bullies, the Losers realize that none of the adults in Derry can actually see Pennywise or the horrors he is committing against the children of Derry.
However, It must surrender the the laws of whatever shape It takes. Pennywise's strength is also his weakness. For example, if he were to take the shape of a werewolf (as he does in the novel), silver bullets would harm him.
Throughout the novel, It is generally referred to as male. However, late in the novel, the characters come to realize that It is most likely female, due to its true form in the physical realm being that of a giant pregnant female spider.
Humiliated, Pennywise begins to shrink, transforming into an almost Benjamin Button–like, melted clown-baby.
The novel explains that IT landed on Earth during an asteroid impact and established itself under the land Derry would be later built on, and initially preyed on indigenous tribes. From that point of view, IT/Pennywise would be billions of years old, but his clown shape wouldn't be that old.
It has popped up in a handful of Stephen King's novels over the years, but Derry is unfortunately not a real place. However, that doesn't mean that you can't find cities like it in New England and feel like you're visiting it alongside the members of the Losers Club, young and old editions.
Parents need to know that It is based on Stephen King's 1986 novel, which was previously adapted into a 1990 TV miniseries. It's very scary, and not just in a typical gory slasher or jump scare way; it generates actual tingles. (And if you're scared of clowns, it's even worse.) Things get pretty gory…
Also in the 2017 film, Georgie's death is changed. As well as having his right arm bitten off, Georgie is trying to crawl away but he was dragged into the sewers and devoured by Pennywise, with an unnamed older woman and her cat being the sole witnesses of the horrific scene, including before Georgie lost his arm.
Kersh is the daughter of Bob Gray, whose evil clown Pennywise is an incarnation of the shapeshifting creature referred to as "It."
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The Losers confront Pennywise on how they've overcome their fears, and are no longer scared of the entity, causing It to shrink to a small weakened Pennywise. Mike rips out It's heart, which he and the Losers crush with their bare hands, finally killing It.
While this version of It is currently Pure Evil just like the novel and the TV miniseries incarnations, there's a slight possibility that this may change once Welcome to Derry, an upcoming HBO Max prequel show about its origins set in the 1960s is released, as the series will delve into its backstory.
Thanos would absolutely decimate Pennywise. Thanos is a fearless, ruthless, cunning, Machiavellian nihilist. He only fears one thing, the rejection of the one entity that he loves, Death, or the Marvel embodiment of Death.