Psychic aliens adrift in space (and time) wonder if other floating ships of their kind are out there, and finding an earth like planet where the mythology is sort of like theirs, use their ability to shape shift to a close approximation to the myths and artwork to scout out if this is the case, only to accidentally strand themselves in the paleolithic.
They become the elves of the series' title, big eyed, fay and light weight, with four fingers and flaring pointy ears. The primitive humans are non-plussed with their planet's new residents and make extremely bloody war on the stranded strangers, driving them into the woods. Our story focuses on a small pocket of their descendents, the Wolfriders, who've domesticated the local wolves and shrunk considerably from their predecessors, and eke out a mostly stone aged existence in a lush forest, ever careful of the humans.
When they rescue a captured member of their tribe, Redlance, from a grisly fate, the Wolfriders are burned out of their forest home, and through trickery by Trolls, narrowly avoid death by desert to find (by sheer chance) another small pocket of their kin, the oasis of the Sun People, similarly shrunken agrarian villagers who've enjoyed the centuries free of people. As luck would have it, the Wolfriders' tribal chief, Cutter, forms an instant psychic bond with Leetah, the Sun People's talented magical healer.*
Being used to raiding humans and cheating trolls in trading, the Wolfriders decide to deal with things by taking what they need. Barbarian style raiding ensues, following only the vague bit of shared cultural lore that no elf must die (that's played out in later books but its still in effect here), so the most violent thing that happens in a few people are knocked over and Cutter carries Leetah off, wench over the shoulder style.**
Not actually being very rape-inclined, and not being sure that brown is a good reason to assume someone isn't a proper elf, when the Sun People's only warrior, Rayek, shows up, a short scuffle and an argument later and most of the clan rejoins back at the oasis. The Sun People fled similar human mistreatment, and Leetah, showing the forbearance and patience of any health services worker of any era, helps them restore Redlance to health.
Thence follows the lighter side of this story, in which Rayek and Cutter run out a rivalry for the non-plussed Leetah, who really wants neither of them, having longstandingly refused a formal marriage with long term lover Rayek (referred to as "Life Mate", versus "Love Mate"). Unfortunately 'Recognition' cares a lot more for making health elf babies*** and the Sun People have just the delaying tactic to help people resolve the issue of which person they'll screw, given a choice of two. Cutter and Rayek square off in a challenge of balance, a puzzle and a fear test. Cutter wins the balance beam wrestling match, he's spent his life nimbly hopping around trees, is very lucky with the hide-and-seek puzzle, accidentally winning though Rayek exceeds him in actual brains, and manages to win out overcoming a phobia, since his caretaking desires exceeds Rayek's pride driven abilities.
After feeling shamed, Rayek blows town while Cutter and Leetah talk out their situation, in between the Wolfriders finding a place in the village. Since the Sun People's method of dealing with danger is to hide or come crying to their healer, the Wolfriders greatly increase the availability for dietary protein, help deal with the local "Zwoot" problem. A happy ending occurs, leading into the exciting mishaps and adventures of the later books.
The art is extremely colourful, with a bit of seventies influence (the pants everyone wears are decidedly bell-bottomy, and there is a fondness for that male vest-thing that seems like the must wear item of sci-fi, fantasy and tough guy rumblers in fiction of the period) and you can see an overlap in the art influence in Heavy Metal magazine from the same period.
*And probably scenting the chance to spice up the itty bitty gene pool each is functioning with, since everyone in the Wolfriders descends from one common ancestor, and the Sun People have like, maybe five? (I read the novel)
**I think I can assume this is the point he passes into team bisexual, since he has a longstanding canon um... brothers relationship with his male best friend and no such deal with any of his lady cousins.
***Wolfrider 'Pike' was conceived using healing magic, and is not the sharpest arrow in the quiver as a result. While the species seems to have a Lamarckian approach to evolution even without the help of healing magic, again itty, bitty gene pools!