From Nookipedia, the Animal Crossing wiki
The Wishing Well and its equivalents in the Animal Crossing series are the main community spots, where special events take place. It is where one goes to check on how the town environment is or apologize for not completing errands.
In Dōbutsu no Mori and , Dōbutsu no Mori +
In Animal Crossing and Dōbutsu no Mori e+
The Wishing Well is the center of most Festivities in the town. Apart from being where most holidays celebrations take place, players can do several other things there, such as checking the town's environment. They can also apologize for failing tasks for the villagers. Apologizing can only be done if the player has an item that needs to be delivered to a villager who has moved out before the favor was completed, as that is the only way to get rid of the item in this case.
In Wild World and City Folk
The Wishing Well appears only in Animal Crossing, but the functions of the Well have been contributed to the Town Hall in Animal Crossing: Wild World and Animal Crossing: City Folk (the Civic Center) and the Town Tree and Town Hall in Animal Crossing: New Leaf. The player cannot, however, apologize for failing tasks. However, a fountain, much as the one in the city, can be made by depositing 400,000 bells into the town fund after an additional bridge has been built for donating 200,000 bells. The player can also throw an axe into the fountain for a chance to receive a silver or golden axe from Serena. In Animal Crossing: New Leaf, the fountain is a public works project, and axes cannot be thrown into it.