You two had better be careful or this thread will be moved to mirth!
Elves? Smoking? I don't see why not
. They drank heartily enough, (as seen in The Hobbit) and I like to think that Tolkien put enough of himself into the books that the elves could, after getting to Valinor, sit back in a nice cosy chair and have a good smoke.
I just recalled, however, that Bilbo gave to Merry and Pippin some pipes that he said were made by the Elves (I don't have the book at hand, so someone will have to check that for me). So, perhaps they did. Maybe, like humans, some did and some didn't. I think the question is academic, anyway.