Giving it haste and protection goes a long way, because otherwise youll play a 0/4 and youll have to wait a turn to use it the first time
Being able to take an extra turn for merely two mana is so wildly overpowered that, along with Chaos Orb and a few others, Time Walk became one of Magic's earliest banned cards
Elven Ambush and Elvish Promenade for going wide with lots of bodies Prowess of the Fair, Moldervine Reclamation and Poison-Tip Archer for when your elves die Timberwatch Elf and End-Raze Forerunners for big damage turns The deck has a variety of powerful elves, and for those that havent collected or built with the tribe before, there are some solid pickups which will slot into whatever way you end up building the deck like Elvish Archdruid
In Commander, where games are a lot slower, Krenkos ability really shines and can create a board thats almost impossible to deal with
If you use its offspring ability, you'll get double the effect, but double the potential burn