The first task of anyone playing an elf is to keep a clear view of the social contract of the table. In some groups, it's okay to nettle one another endlessly with mutual disdain and superiority complexes; in other groups, that's a short path to hurt feelings and no more game. Your priority as a player is always to behave in such a way that other people want to keep inviting you to play.
I mention this because these traits, ideals, bonds, and flaws tilt the character toward being, what is the word...
a douchebag. It's the traditional presentation of elves, so I've included things that would make you a douchebag and things that would make you a likable, useful member of the party. Try not to take more than two really douchey things out of five choices, even if it means you have to reroll a few times. (For the record, this is broadly true of most Backgrounds.) Bond #3 in particular excuses a lot of sins.
It's probably obvious enough, but this is
not a Background - it is an expansion of the elf race writeup. If this is useful to you, let me know - I'm inclined to continue this series through the rest of the
Player's Handbook races and the
races of Aurikesh.
In closing, I just want to say that
Fëanor was the baddest motherfucker ever, closely followed by
Galadriel. Peace, I'm out.