The implication is that the Elves lived in cities in the forests (perhaps like Guatemalan rain forests), Depending on if you are more of Tolkien fan or a Pratchett fan, Dwarves are more mountains/rocky types.

And of course there are neither Dwarves nor Elves (in the fantasy fiction sense) around today.

Not really seeing any connection beyond the jungle part. Mayan world and religion doesn’t appear to share much with Tolkien: https://en.m.wikipedia.org/wiki/Maya_religion vs https://en.m.wikipedia.org/wiki/Elf_(Middle-earth)