Wings and Magic
The wings on the figurines are very varied - and in most cases would be totally impractical for flight.
The size, style and colouring of the wings clearly reflect the power and persona of the elf. So the wings are purely a manifestation of their magic.
One can imagine the elves moving their wings to help them collect and use magic.
The wings may also help the elves to bond with young dragons...
Rearing Dragons
Many (indeed most) of the figurines are depicted with young or baby dragons, suggesting the elves are actively involved in rearing and training dragons.
The image above left shows Adica with a young dragon, carrying a magic staff.
The image above right shows Adriana with her impressive magic wings. She is accompanied by a young dragon and has a baby on her lap.
Many of the figurines depict elves in simple peaceful poses.
Some figurines such as Melanie (sitting on a tree stump below) appear in woodland settings and appear to align with the classic concept of Woodland Elves, as described in Lord of the Rings books.
Many other figurines like Lizzy (sleeping below) appear in harsher environments that usually have strange crystals embedded in the land.
Since these crystals appears in so many of the figurines, they must be associated with the elves.
Perhaps these are magic crystals, planted by the elves to heal the land and make it fertile again.