"Elvis" sounds a lot like "elvish" or "elves", making for a comedically useful stock pun. The incongruity between the decidedly ethereal and long-lived elves and the earthy and very much mortal and hedonistic Elvis Presley arguably just makes it funnier. Sometimes they're actually fusions of the two concepts. Sometimes they're just Incredibly Lame Puns. Examples of Elvish Presley include:
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