The Sun’s Garth Pearce has recalled watching as the film was made in Canada in 2003 and says "everyone shook with nerves" on set.
Will Ferrell was reportedly nervous about leading the film after it was turned down by Jim Carrey, saying: "There is so much that can go wrong. I’ve known about this for about five years and you can’t help but think, ‘Am I making a big mistake?’"
His Elf co-star James Caan famously told him, very bluntly: "I don’t find you funny", and mockingly referred to the film as "Elk".
Caan also called Ferrell the "dullest person I’ve ever met. But he will wear anything, any time, anywhere - as you can tell."
Pearce recalled lead actress Zooey Deschanel, just 23 at the time, feared the film wasn’t going to be the breakthrough she was hoping for.
"And it’s a nightmare dying my hair every week, because my true colour is actually black," she said. "It’s also a myth that men prefer blondes. They don’t!
"I am banking on the fact that other people love Christmas as much as I do. I even believed in Santa Claus until I was 13. But I haven’t a clue how things will work out."
As for director Jon Favreau, he had just one film to his name - Made - which flopped financially. He wasn’t Ferrell’s choice of director and the film faced tight budget restrictions.
The setting didn’t help - a former mental home outside the city.
Ferrell told the writer about his anxieties, revealing: "This is a departure for both me and the director ... he’s known for acting in films in the past, rather than a director, and you don’t think to yourself, ‘oh, yes, a Christmas movie guy.
"So is it scary to be doing it? Yes. But nothing was scarier than being part of Saturday Night Live. To be given that opportunity opened my mind.
"You think: ‘Gosh, if I can do that show, I can hopefully do a lot of other things.’ But I am under no illusions. I am not famous."
As for Caan’s comments, Ferrell simply said: "Everyone has their own view of who is funny and who isn’t."
And Mary Steenburgen, playing Emily, married to Caan’s character Walter, said: "I don’t know what everyone is worried about.
"This is a funny script and it’s going to be a funny film. Sometimes these things work out and sometimes they don’t. But this will be a big hit."
She was right - when it was released at Christmas in 2003, the film got rave reviews. Made for just NZ$74 million, it earned NZ$554 million at the box office and is still a favourite today.