My elves, or rather the original "true" elf "races", according to my world setting mythology were born from the blood of a couple of Elder gods (quite by accident) in a battle between the two.
The, then "good", god's blood formed the "good elves" where it fell onto the phsyical world under the Light - the "Blood of the Stars" -your Tolkien "perfect" beings, immortal (slayable, but immortal), beautiful, charged with magic and enlightened wisdom. (Note: PC's cannot be this kind of elf)
The evil god's blood fell, naturally, into the shadows and hard crevaces of his Darkness - the 'Blood of the Shadow" or "of the Drakness" -full on Gygaxian demon-worshiping, driven to worldly power and subjugation, filled with malice and EVIL drow/dark elves...also slayable but immortal (though with their general cruel/cut-throat society and power-hungry wickedness one rarely sees a Shi'Daeiri live on through too many centuries before falling victim to their enemies -from within or without their kind.) (Note: PCs are also prohibited from these elves)
The blood that mixed as it fell to the physical realm formed the, generally, "neutral" elves -the "Blood of the Clouds" or "Clouded Blood" according to who you ask- were originally a re-fluffing of Greyhawk's "Valley Elves", also immortal, generally beautiful (by human standards), but not as magically adept or driven by purposes of "good" or "evil", more concerned with their own pleasures and desires of the natural world than anything else. They have, over the years of world-development taken on a distinctly less "xenophobic" slant than the original Valley Elves, but the "Cloud" or "Mist" elves still value their privacy and do not mingle with other races so much as other elvin nations who have come to pass/develop over the years.
The "Kantiiri", your "Wood" or "Wild" elves, cme about much later in the world's history and were essentially taken from Elfquest and thrown in a stew pot with the traditional D&D "wood elves." Not immortal (rarely surpassing 500 years), shorter, much more territorial and defensive of their wooded homes, but with a rich tribal tradition and cultural heritage...as distasteful and uncivilized as the "Elves of the Stars" find it to be. I even threw in the "four-fingered hands" of EQ, since the stout races of my world have 4 fingered hands, and the evolutionary myth/belief by some is that they were brought into being by a a mixing of "star" or "mist" elves mixing bloodlines with dwarves or gnomes.
The world's "High Elves" -in the D&D sense...which is basically Tolkien, again...are an offshoot civilization of the Blood of the Stars who forsook their immortal realm to come to the aid/defense of the mortal races. They have most of the attributes of the Star Elves, though are less versed in magic, swift and accurate with bow and sword, enjoying the heitened agility and senses of their immortal kin, though have subsequently lost their immortality -though the nation has not existed for so many centuries -only about 500 years now- for that to have come into play yet, society-wise. (Note: All PCs are assumed to be this kind of elf, though players may opt to be Shi'Cynallae -Cloud elves or Kantiiri if they really want to)
And there's sea elves too, "wild/wood" elf offshoot tribes for various terrain (swamp elves, snow elves, etc.) But they generally do not play a role in the world (you can't be a PC of those elves).
I guess the short of it is, I like elves just about any way you can throw them at me.

But with a major dose of Tolkien/Sidhe/Celtic folklore thrown in.
--SD