I won't to know what the correct term is for using the word 'dwarfs'

Is it correct to say dwarfs or dwarves?

Example: The dwarfs ran down the hill. The dwarves ran down the hill.

'Dwarfs' is the standard plural of the noun 'dwarf'.
'Dwarves' is a newer variant popularized by author J.R.R. Tolkien in 'The Hobbit' and 'The Lord of the Rings'. The Tolkien spelling is appropriate when referring to little people in fantasy worlds.

'Dwarfs' is better everywhere else….EXCEPT, it is no longer PC to refer to anyone as a 'dwarf'. The preferred term is now "little people'.

That is very cool, I learned something new today.

Little people are normal in appearance, but dwarfs are a result of a genetic imperfection.

As this is a grammar forum, shouldn't your name appear as 'Santa Clause'?

A lot of people say I have a fertile imagination - or was it futile?
Sorry, I'll get my coat...