A common pet from the Christmas Event 2016, the Elf was bought for 6 Blue Tokens through Santa's Workshop and has not been obtainable since the event ended, so trading is the only way to get one now. Its price range puts it near Chroma Seer and Chroma Gingerblade, which makes it decent trade fodder if you want to move up, though it is not the kind of pet people chase.
Elf (2016) is a Common pet in Murder Mystery 2. Its combined value is 26.5, #22 of 335 common items and #250 of 921 valued items overall. Demand is low: it sits in inventories for a while, and buyers often ask for a discount. The value went down 5.4% over the last 7 days.
Closest in value: Chroma Seer (26.5), Chroma Gingerblade (26), Chroma Tides (26). Use them as a benchmark for a fair one-for-one trade.
Value history
What it is worth in other items
1×Chroma Seer
1×Chroma Gingerblade
1×Chroma Tides
1 : 1Ecto
1 : 1Webbed Gun
1.1×Coal (2018)
1.1×Snowman (2018)
1 : 1.1Chroma HeatHow many of each item equal one Elf (2016) by value. Demand differs between items, so check it before you trade.