Depends on how you decide to include it into your family traditions. I got one a few years before they became popular in the UK. It came with a book about how you were not allowed to touch him or he would lose his magic and how he flew back to Santa each night to tell him if she had been good or bad. I never read her that book, nor do I buy into ‘elfcams’ or any other horrible threats parents use of ‘Santa wont come’. I also never really bothered moving him much, DD put him to bed in the dolls house and played with him there.
Before I had gone back to work and DD was very small the elf bought little presents of arts and crafts stuff that we would have done together anyway. The ingredients to make chocolate or red play doh, ingredients for gingerbread men, paper chain supplies, Christmas stickers and colouring books. A big book of traditional Christmas stories that was bought every year - that DD aged 10 was upset he hadn’t bought her this year as I’d misplaced it!.Very inexpensive Christmas themed gifts and a chocolate coin which made Christmas magical ( I also used to
bring him back with a small hamper of things for Valentines, Easter etc).
DD is 10 now, probably doesnt believe anymore but would miss the elf, although he doesnt bring things as much anymore. He brings Christmas things to do at the weekends and a few of the Holiday days leading up to Christmas. Things to keep DD busy, more complex colouring books, small craft sets from Hobby craft, Usbourne Christmas craft books and this year his parting gift was Horrible Histories Christmas Book. Anything reusable is boxed up next year, often they are regifted / returned back to her and she is happy to see them.
What our elf has always been a brilliant tool for is getting my own presents. As a single parent my parents always get me gifts but oftenfairly generic, gift cards, clothes etc and I rarely buy things for myself. So at Christmas and my birthday I buy a few things I really want, books Ive been waiting to read, L’occitane hand cream etc, a large box of Lindt balls and leave them in DDs room with wrapping supplies and the Elf as if he had bought them. I got what I wanted, DD got to give me something she knew I would like and it was all magical.