For a very melancholy, rich tale concerning the last Elf I highly recommend C.J. Cherryh's Arafel's Saga: The Dreamstone and The Tree of Swords and Jewels
Chyrryh takes her background from Celtic mythology to tell the tale of Arafel, who guards the last holdout of Eald in the world of Men, until she is unwillingly drawn to aid a Man and his family in war. But her assistance comes with a price, both for humans and for Elves.
It is an astounding well-written set of books, and one that I re-read regularly. But it has a very dark tone, and should not be read to any little ones.
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