What would you call an elf who won the lottery?

This joke is a pun, blending the word “elf” with the concept of wealth. “Elf” is a mythical creature often associated with Christmas and Santa Claus. They are typically portrayed as Santa’s helpers, working in his workshop. The term “wealthy” refers to having a large amount of money or assets. By combining “elf” and the sound of “wealthy,” the joke creates the word “Welfy,” implying an elf that has become rich.