Sorcerer.
Ranger, Scout and Duskblade are not bad choices from a flavor perspective, but if all you're changing is favored class, giving a race that gets weapon proficiencies as a racial perk a favored class that grants those same weapon proficiencies is... not a good idea. Especially since elves don't need a power-down by any stretch of the imagination; -2 Con is just brutal in every 3e D&D game I've ever seen.
Wizard is just... silly, as said above. Elves are supposed to be of above-average intelligence (in Tolkien), but not nearly to the degree they're supposed to be of above-average charisma (in same). In D&D, the beautiful side has always been played up more than the brilliant side, with the possible exception of Dark Sun. What's more, elves are supposed to be inherently magical beings with a touch of the arcane (again, according to FR/Spelljammer/Mystara/BD&D/Greyhawk, and it's not out of character for Dragonlance, either).
D&D elves, despite having a somewhat woodsy flavor, really don't mesh naturally with D&D druids. From a flavor perspective, elves seem more tied to the arcane (fey) side of nature, IMO, except when they outright consider themselves nature's rightful master (creating cities like Myth Drannor, or molding plants to their will to make living ships in Spelljammer). From a mechanical perspective, giving them a favored class that can't use their racial weapons and benefits from only one physical stat - the one elves lose - again, seems like a bad idea.