I thought this was decent, but not that great. It was fairly interesting for you to draw a classic holiday character instead of a video game character. I'm certainly not saying you can't do that, it's great. It's funny because I always invisioned this character as being more obese. I guess big breasts work well anywhere! Those are some of the smallest of Santa's elves I've ever seen.
Of course, I guess you don't have to have an official mythology. It looks like her boobs are weighing her down! I like how shocked Mrs. Claus looks. I'd be the same way if there was an elf like that at all near me. A strange, but good picture.