Well?
Legolas! Ernie’d be too busy baking cookies to fight.
This has to be one of the funniest thread titles in a while. 
Legolas would have 10 arrows in Ernie’s heart before he could say, “Creamy chocolate filling.”
Who can resist delicious cookies? Maybe Keebler’s more powerful than he lets on. Anyone who can come up with the cookies with the chocolate covering on the bottom and the chocolate stripes on top is a force to be reckoned with.
I dunno, but I think Ernie could come up with a trap. The Trojan cookie jar, if you will. Legalos would be too distracted by the chocolatey goodness of grasshoppers and fudge stripped cookies to even know that his nemisis is ready to bake him.
After a couple of months of living on water and lembas, I think Legolas would be willing to sacrifice a little pride for a Keebler fudge cookie.
“Lembas. One small bite is enough to fill the stomach of a fully grown man.”
Does Ernie posess an ring of power?
Yes: ELFudgeya, the Ring of Chocolate. Originally gifted to Al Keebler, father of Ernie, by Celebrimbor at the beginning of the Third Age, it was kept as a national treasure in his kingdom in the Forest of Hollow Trees until his death in battle with Sauron’s forces. Prince Ernie Keebler inherited it an became its bearer.
So nyah! 
I’d be much more interested in a tag team match of Legolas/Gandalf vs Ernie/Lucky Charms Leprechaun.
I thought they were the same guy.
No, no!
Ernie’s all about the cookie.
Legolas is all about the nookie.
With Gimli.