elven jewelry
The term lfsciene ("elf-shining") is used in the Old English poem Judith referring to elven beauty. On the other hand oaf is simply a variant of the word elf, presumably originally referring to a changeling or to someone stupefied by elvish enchantment.
Modern fantasy literature has revived the elves as a race distinct from fairies. Fantasy elves are different from Norse elves, but are more akin to that older mythology and to the Irish sdhe than to folktale elves.
Christopher Paolini's Eragon also features elves of a Nordic persuasion.