Is there such a thing as Albino hair? Because most elves have white-blonde hair which is close enough isnt it? Elven folk are supposed to be fair of skin, so I suppose you could call them albino. It has a nice ring to it....."albino elves" In the films, the fellowship have more or less the same skin-tone but, just to raise a slightly different point; why do dwarves have darker skin than elves?
Elves are almost always outside, so surely they should have a darker flesh than dwarves, who spend their time underground! (because of the whole sun thing!)
Elves are pale, I suppose, to symbolise their purity and inner light. So you could call them albino.