Dwarf : (dwɔːf)
Noun: (in folklore or fantasy literature) a member of a mythical race of short, stocky human-
synonyms: gnome, goblin, hobgoblin, troll, imp, elf, brownie, kelpie, leprechaun, fairy, pixie, sprite
"the wizard captured the dwarf"
Plural: dwarfs or dwarves
Dwarfs is the standard plural of the noun dwarf. Dwarves is a newer variant popularized (though not invented) by English author J.R.R. Tolkien in his fantasy fiction works, including The Hobbit and The Lord of the Rings. The Tolkien spelling is appropriate when referring to little people in fantasy worlds. Dwarfs is better everywhere else.
1. “Snow White and the Seven Dwarfs” Walt Disney
2. “Standing on the Shoulders of Dwarfs” Splodgenessabounds