I'm not a Tolkien Scholar.
That out of the way ...
I did read that Tolkien ultimately regretted the name elves, for his Quendi (First People.)
Yeah, that is their proper name. They are the Quendi, or First People. Men and Women, we humans, are the Atani (referred to as Second People, Aftercomers, Usurpers, Sickly People, and a lot of other things.)
They were not elves, as elves are thought of in Dungeons and Dragons.
They were the Firstborn Children of the One.
To the Quendi, the One gave gifts. To the Quendi, went the greater bliss and stature while the World lasted.
This heightened bliss and stature is the reason the Quendi appear as they do: tall, strong, healthy, enduring, fast, and talented. Not to mention intelligent and even occasionally (occasionally!) wise.
However, they are not elves in the D&D sense.
Not descendents of the Faerie.
Not born with innate gifts for magic that lead to great spellcasters and greater fireballs, bladesingers and spellsingers.