Elf Slave, Wat Do?
"Elf slave, wut do?" refers to a period in /tg/'s history prior to the enforced era of today, when more adult content was tolerated.
All variations are simply bait (predating the This Is Bait meme by a few good years) leading to:
1) A shitstorm of argument about alignment.
2) Porn and Fapfics. Keep in mind that back then /tg/ was a blue board in name alone.
The general idea is the OP begins with something along the lines of "So my DM gave us a virgin Elf slave. What should we do?"
This reached the point where they were spammed almost non-stop, which didn't really set it apart at first from the other forced memes that tend to crop up every now and then (like Lelf, "Excuse Me" Guy, and Frodo Asks). It was in fact the vitriolic reaction it created that made it noteworthy.
Nobody is quite sure of the reason why it managed to create such a massive backlash. As most who have done their research can tell you, /tg/ was created on 4chan solely for the purpose of isolating the cancer that is Warhammer 40,000 from... everything else which, like My Little Pony, is shamelessly spammed and inserted into everything (inb4 heresy) regardless of how off-topic or excessive. While Warhammer 40k has always been a large part of the board's culture, the spread of Thri-Kreen Erotica and "Elf slave wut do" threads pushed some people over the breaking point.
A few Anons decided to fight back against Elf slave wat do. Every single thread that began that way was subjected to 40k image spam with Sage (back when that function worked still) until it reached 404. While initially cheered, it was inevitable what would happen. Without much moderation in those days, the 40k shitspammers grew bold and decided that it was up to them to police the board. Taking on namefaggotry (the first sign of corruption), they would then attack porn dumps of Gnolls. Then they got bolder, and decided that threads devoted to other 40k factions deserved Space Marine dumps. Then Order of the Stick threads, because a comic about traditional games is not a traditional game. Then Dungeons and Dragons comic storytimes (the act of dumping an entire comic for others to read) were the target, followed by threads about Dungeons and Dragons itself. It became expected that 40k shitspamming would come into any thread in certain hours (keep in mind the Hide feature did not exist yet). When this got so out of hand that 40k shitspamming spread to other boards with impunity, mods finally began to do their work. Unfortunately, the solution was oftentimes to simply delete the thread giving them the satisfaction of having won and clueless mods would then delete any recreated thread. Without an option (or any real concern other than his Korean bobble-head cartoon threads not having bald German Buzz Lightyears shitting them up), Moot ushered in the darkest age of /tg/ history; the Nazi-mod.
Thanks a lot, newfags.