I have been reading some of the work of John T Kruse on the subject of fairies; especially - especially his Faery: a guide to the lore, magic and world of the Good Folk (2020) - which is, by far, the single most informative and readable work on the subject I have encountered.
Elf is the usual name for such people among Anglo-Saxons and ancient Scandinavians, and this survived into the Middle Ages and beyond in the Scottish Borders - where they form the subject of numerous ballads.
The word "Fairy" is a more recent, French-derived import - spreading from the metropolis.
I also read his annotated collection Fairy Ballads and Rhymes (2020) - which features and discusses the fairy-referencing Ballads (mostly originating from the Marches of Northumberland and Cumberland and the southernmost counties of Scotland).
Some of my particular favourite examples of these include Thomas the Rhymer, and Tam Lin - to which I would add (although it is not included here) Willy O' Winsbury.
Another perhaps fairy is the protagonist of Long Lankin (or, in Northumbrian Lang Lonkin) - the site of whose exploits we recently encountered during a walk. In his novel about the return of the elves, Lords and Ladies; Terry Pratchett names the Fairy Queen's (especially cruel) lieutenant Lankin - and this certainly fits some versions of the ballad (although this is not the usual explanation).
Once you have tuned-into fairy references in literature and song, which are often implied rather than explicit; then you can see they may be present at a pretty high frequency. For example in the Arthurian stories - where Wendy Berg and Gareth Knight have both argued that nearly-all of the women, including Guinevere, are probably fairies.
What has this to do with the elves of JRR Tolkien? Not very much!
Tolkien's elves - as depicted in The Silmarillion, The Hobbit and The Lord of the Rings - have little relationship to folklore and are mostly his own creation.
Indeed the high elves of Middle Earth (who are the focus of the stories) were called Gnomes until a pretty advanced stage of publication - although the Gnome name was chosen for its etymological link to knowledge (as in gnosis), rather than from its previous usage in folklore, magic etc.
(Only after garden gnomes - which are more like mini-caricature-dwarves - became popular between the wars, did Tolkien drop the name.)
If you want Ballad or folklore elves, you can find them (more or less) in Alan Garner's first two novels, Terry Pratchett, and Susanna Clarke's stories - and many other places, including the more authentic fairy stories, such as those of the Grimm brothers.
Within Tolkien's oeuvre the closest are the Mirkwood elves, in The Hobbit
The feasting people were Wood-elves, of course. These are not wicked folk. If they have a fault it is distrust of strangers. Though their magic was strong, even in those days they were wary. They differed from the High Elves of the West, and were more dangerous and less wise. For most of them (together with their scattered relations in the hills and mountains) were descended from the ancient tribes that never went to Faerie in the West... In the Wide World the Wood-elves lingered in the twilight of our Sun and Moon, but loved best the stars; and they wandered in the great forests that grew tall in lands that are now lost. They dwelt most often by the edges of the woods, from which they could escape at times to hunt, or to ride and run over the open lands by moonlight or starlight; and after the coming of Men they took ever more and more to the gloaming and the dusk. Still elves they were and remain, and that is Good People.It would seem that in these after-days more and more of the Elves, be they of the Eldalie in origin or be they of other kinds, who linger in Middle-earth now refuse the summons of Mandos, and wander houseless in the world, unwilling to leave it and unable to inhabit it, haunting trees or springs or hidden places that once they knew.
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