The other 'staple' fantasy species is the dwarf.
I don't know why, it just is. Blame Tolkien, if that's the way you like to do it, but I prefer to thank him, for showing us that they can actually be done well and with originality.
Firstly: dwarves (or dwarfs); they mine, they like gold (a lot) and they fight with axes. Straight from our dear old J.R.R. No one, or at least, very few, concern themselves with WHY they like gold quite so much, they just 'do'. Being an optimist (at times) I fail to believe that sheer greed is at work here, please, for the love of the genre, start coming up with something original.
Oh, and they also hate elves. Or love them. But ever since John wrote that they weren’t really friends, it seems to be mostly hate. Again, this is mostly unexplained, and, as our friend has already stated, improbable, as two races that have had a death wish for each other would not long inhabit the same world. If they love them, see 'humans and elves'.
Another key feature of the dwarves in that they live underground. Why? Again, this is unexplained, mostly, and unpractical: nothing grows underground, and very little lives underground, what are they going to survive on? And what’s with the axes? Axes require good swinging room in order to be effective, as their power is based more on the weight and momentum of the swing and less on the sharpness of the blade. In the cramped confines of a tunnel, an axe would be almost useless.
The beards I can understand.