The Elves are also otherworldly, but most of us can picture them, I think. Tom Bombadil is otherworldly in a more mysterious way; mysterious, but also rustic, earthy, and homely. Can a person be otherworldly in a homely way? The elves are otherworldly in a sun-and-stars way. (I feel like Sam, trying to find words to express what I mean). But I can picture Bombadil in my head.
One thing I find interesting is that we three for starters seem to have very different pictures of Tom in our head, despite what I thought was a rather clear description of him in the books. Neat.