Primarily both are played as a two drop that draws a card, the elf is just a body to be done away with via Skullclamps etc or offer up synergy for better elves where as the wall is more of a speedbump against aggressive decks
For 2W, shes cheap to play, buffed by legendary permanents, and incidentally allows us to seek out legendary cards from the deck based on her strength
It can be used to flicker any of your team's creatures if they have a good enter the battlefield ability
There are some more minor options in Red and Black utilizing more of a ritual-style ramp effect, but outright ramps is a bit more of a rarity, especially on ETB creatures
NIBELHEIM AFLAME Chandras Ignition lite for one less mana, but with the ability to flashback for some card draw / selection
You can see that same Amber ink design on his cape, and differences to the other design