Well since the 40k section has a run down on making a special character, I felt Warhammer was equally deserving.
When attempting to design your own character or army one must always stick roughly to the basic statline of your raceâ€™s lord.
Strength and Toughness should rarely if ever be increased, especially not for Elves.
Weapon Skill and Initiative while largely considered a â€śsoft statsâ€? are a good way to portray your lord as a superior warrior.
Attacks tend to represent raw ferocity more than anything else, unless your character is a crazed berserker I wouldnâ€™t go crazy here either.
Leadership, most important to any general once again itâ€™s best you donâ€™t exceed the lordâ€™s maximum by more than 1. Simply because if your lord is so great and renowned why doesnâ€™t he or she take over their race. Giving a Skaven LD 10 is an example of something that wouldnâ€™t happen.
If you have the army book read it in detail if not go here http://www.criticalhit.co.uk/ or here http://en.wikipedia.org/wiki/Warhammer_Fantasy its often wise to check all three before making a decision.
Achievements of strength and physical endurance are best dealt with modestly or told second hand (with the latter you can go completely nuts and tell of a character who leaps buildings with a single bound, that only serves as propaganda).
Secondly itâ€™s best not to involve existing characters in your background unless it exists as a form of hero worship or a passing foe.
Take Archaon for example- your Chaos Lord may respect him deeply and strive to be just like him. In reverse an Empire general may harbour a particular hatred of the Lord of the End Times after being defeated by them.
Bringing me to the last point: thereâ€™s no shame in defeat, even legendary heroes and villains are brought to their knees from time to time. The trick to it is getting back up again and keeping the morale amongst your troops. Given the power of some of the beings in the Warhammer World, if your character is undefeated then theyâ€™re clearly not looking for worthy foes.
Now the best way to represent a unique individual is to provide unusual magic items. Before I go any further Iâ€™ll point out that High Elves have a 20% reduction on all magic items and Honours to compensate for the terrible Intrigue at Court special rule. Iâ€™ll also point out that Wood Elf magic bows and arrows have an effectively greater cost due to the fact they replace a standard longbow.
Other than that I can only advise you scan multiple army books and pick rules that suit your character. And if presented with two identical items one of which is greater in points then always take the more expensive item.