To see a friendly-looking elf in your dream means you will always be held in high esteem by others. You will be blessed with good physical and mental health.
Also, an elf can sometimes represent an aspect of yourself that is not fully developed or has been repressed.
To see a hideous or mean elf in your dream is a signal of distressing times.
To dream that a friend turns into an elf foretells good health and pleasurable social activities.