Every year 
We do it, others don't. Ours cost £1 years ago and the kids love it more than Father Christmas.
I love little traditions and for our family of small children, this is one. Chinese food on Christmas Eve is another. Personal traditions - doesn't have to be rubber stamped as a 'time honoured, religiously acceptable' one.
Lots of parents don't have the money to visit panto, ice festivals, grottos - this is an inexpensive way to feel excited with your children about the time of year.
Our elf has never made it to instabrag, he's just for us. Same as my Christmas tree, people around here are paying a tree dresser ffs, but it doesn't impact me, I just throw my shitty decorations on my own and love it just as much.
He also leaves notes asking them to choose toys and books to take to the refuge, he has his food bank shopping bag ready with stuff in once a week, as well as all the biscuit crumbs or sitting in Barbie's caravan shite.
Do what you want, but don't scoff at others. You see it as ridiculous consumerism, I use ours to try and get back to the true meaning of seasons goodwill 🤷♀️