Yes, mechanically conjure woodland beings can summon pixies, and pixies can polymorph a level 8 or higher character into a tyrannosaurus.
But, have you met pixies? Have you met T-Rexes?
It may not work out like you expect.
Maybe you want pixies, but you don't get pixies
First of all, as other answers have provided, what woodland beings you get is GM-dependent.
This should be a conversation with the GM
Every D&D game is different. Some GMs will give the caster exactly the creatures they want, in other games, they never will, and everything in between. In some games, summoning a pixie is like creating a little pixie robot stat-block, to do or die at your orders and never be thought of again. In other games, you have snatched a tiny fey from its life of magically painting flowers or whatever, and bound it to your will through the power of your magic.
So, absolutely, talk with your GM ahead of time.
What kind of druid are you?
You're a druid.
Druids:
Druids revere nature above all, gaining their spells and other magical powers either from the force of nature itself or from a nature deity. Many druids pursue a mystic spirituality of transcendent union with nature rather than devotion to a divine entity, while others serve gods of wild nature, animals, or elemental forces.
Consider your relationship to the summoned pixies. Do you care for their welfare?
The GM may consider your relationship to these pixies as well. Maybe they actually come from a forest you're familiar with.
But yes, you can successfully rip eight pixies from their homes to serve your bidding.
What's a pixie?
Read the description.
They're pixies. Yes, they "are friendly to you and your companions", because the magic compels them to, and "[t]hey obey any verbal commands that you issue to them", because the magic compels them to, but beyond that, they behave like . . . pixies.
If I'm the DM, summoned pixies likely immediately go invisible and hide, and might have arrived invisible. They may well flee, or cast detect thoughts, or even phantasmal force. A particularly interesting development is that they may choose to cast dispel magic, ending their summoning, and returning them home. Now, they don't have any special information that they're there because they've been summoned, but they know something's up, and dispel magic is a reasonable response.
In fact, I'm not sure they don't stand a good chance of figuring out what's going on here and casting dispel magic anyway, unless you manage to command them not to first.
Oh, and there's at least some chance that a given pixie already cast polymorph today. Hopefully you didn't pick the day they had planned for the polymorph fights, where they play hide and seek, trying to turn each other into butterflies.
But, let's assume you get your pixies and your polymorph.
Fear the tyrannosaurus!
I assume the whole point of this is to be able to multi-cast polymorph. Maybe you want to turn your whole party into tyrannosaurs.
This will work, just fine. But, you now have an intelligence of 2. You have no language. You're still you, but you no longer have any reasoning ability, beyond what an intelligence of 2 gives you.
In our games, the way we play that, is that whatever the PC knew before the polymorph to low intelligence, they still know, but dimly. They can have one basic plan, decided beforehand, and that's it. If there's more than one polymorphed PC, then at best, some inter-player communication through nudging or such, is allowed.
This interpretation's worked out pretty well. What has not worked out as fun for us is letting the PC have the stat-block of the t-rex or similar, but actually play it like it isn't dumb as a rock. It's too cheap, and it's not as much fun.
So, yeah, you get your gang of t-rexes to run out there and nom on those guards.
In conclusion
Mechanically, what you ask works as you've speculated, but it is highly GM-dependent.
Finally, in speculation, there are some very interesting possibilities, all highly dependent on the specific game, GM, players, and characters, but food for thought.
What if, summon woodland creatures did actually summon creatures from a place you specifically knew? What if you, as a druid, could work to attain a level of friendship with the pixies there? What if you could earn their trust and respect, and then when you summoned them, they were allies summoned at a moment's notice, not kidnap victims?
Is this RAW? Of course not. Sometimes RAW is used as a way to view D&D like a video game. RAW shouldn't be the end of the ruling, but the beginning.
As for the t-rexes, make half of them giant apes. Six t-rexes charging out of the woods at a castle is terrifying, but 3 t-rexes ridden by giant apes is actually far more deadly. With 7 intelligence, they are comparative geniuses. And they still don't have "language", but they can definitely communicate. They'll nom the guards, bust through the gate, and nom those guards, too.
RRRRRaaarrrr!