Elrond, Galadriel, and Gandalf are openly wearing their Rings of Power which were forged by Celebrimbor, the son of Curufin, who was the greatest of the smiths of Eregion in the Second Age.
Beautiful as they may be, it is a pity that they have lost their power with the destruction of the One Ring. The Silmarillion, states: Narya, Nenya, and Vilya could ward off the decays of time and postpone the weariness of the world.
How was each Ring capable of this?
Did these Rings possess all of the same powers or did they control the element that they were associated with?
Did they give any powers to the ones who possessed them, and if so, what?
Where did Celebrimbor learn the skill to make such Rings?
How did Sauron make these Rings subject to his One Ring?
What other powers, if any, did Sauron give to these three Rings and how was he able to do that?
With the destruction of the One Ring of Power, how were these Rings affected? How was Middle-earth affected by the loss of power of these three Rings?
Did the loss of the Three Elven Rings influence the Elves decision to return to the West and Valinor? What was left for the Elves in Middle-earth if they remained there?
"You stand between me and my lord and kin. Begone, if you be not deathless! For living or dark undead, I will smite you, if you touch him!"