Good job on finally picking up the paint brush, it's usually the hardest part. Wood elves a really fun and rewarding army to play, even if they aren't the most competitive. Now, 500pts, Slyvannas themed army? I can work with that
Heroes (You have 125pts to work with).
Wood elf noble with scout kindred (Allows him to join scouts/waywatchers and makes him a skirmisher) and hail of doom arrows to obliterate a unit on the first turn. 120pts
10 glade guard with musician 126pts
10 Dryads with Branchnympth132pts
5 waywatchers 121pts (Use remaining glade guard)
Noble deploys with watwatchers (Someone say Dark rangers!) and with smart movement simply walk around anyone who wants to charge them (10 inch march with no shooting penalty. if you get charged you've been stupid) while waywatchers are immune to shooting unless its in large numbers (- 1 to hit for Skirmisher, -1 for forest stalker, and then you either force them to shoot long range for an extra -1 or force them to move. Its common for people to shoot my waywatchers with 6's followed by 5's). Glade guard are there because they have to be, but are generally a good unit, as are the Dryads. Such a big unit should be able to handle most things in 500pts quite well, but be aware of the things they won't beat. Warriors of chaos, large units and most monstrous infantry will need to be softened with HoDA first.
Good luck and
PM me if you need any more help. If I know anything about fantasy, its my wood elves =)