Elizabeth is the guardian of the Oolacile Sanctuary and is the godmother of Princess Dusk.
By the events of Dark Souls II, Elizabeth is revered as a saint and legends tell that Saint Elizabeth was a beautiful woman of great virtue, who devoted her life to healing the ailments of the needy by concocting medicine and potions. Little more is known about her, apart from the fact that her unique medicines were still widely used long after her time. Her name was passed through verbal tradition from her time to the time of Drangleic.
By the time of Dark Souls III, what looks like her corpse can be found in a cave in Farron Keep, by a chest with the Antiquated Set and Golden Scroll. How she got there or whether or not that truly is her is unknown, but the items found around her heavily imply it is indeed her corpse.
She is associated to the creation of troches and a specially treated dried mushroom.
Well, look at this one. From what far-away age has thou come? Thy scent is very human, indeed...But, not intolerable...Ah, Princess Dusk's saviour. Thine aura is precisely as she described. I thank thee deeply, for rescuing Her Highness. But Princess Dusk is here no longer...snatched away by that horrifying primeval human. And so I must ask...Couldst thou once more play the saviour?
Thank you. I am Elizabeth, guardian of this sanctuary. Something of a godmother to Princess Dusk. I shall assist thee, to my utmost. For I am one with the sorceries of Oolacile.
Yes, I understand. We care dearly for princess Dusk, and are apt to blur our boundaries. I am ashamed to have been so imposing. But should thine heart be changed, speak to me again. This sanctuary, and the sorceries of Oolacile, are my domain. My strength could surely assist thee in thy travels.
Thou shalt see further on. An abyss was begat of the ancient beast, and threatens to swallow the whole of Oolacile. Knight Artorias came to stop this, but such a hero has nary a murmur of Dark. Without doubt, he will be swallowed by the Abyss, overcome by its utter blackness...Indeed, the Abyss may be unstoppable...Still I have faith, that Princess Dusk may be rescued yet...
Thou art from a time far, far ahead. There are many things I wish to ask...But I know that I must not. The perils of our time are overwhelming enough.
Hah hah...Was thine eye, glancing hither? Thou needst not hide thy wonder. I am a mushroom, after all. Hee hee hee...
Not long ago, I had another visitor. A human like thineself, from a far-away time. Only, he was dreadfully odious...And I am afraid that he is still amongst us. He wore a hat and a long black coat...
Thank goodness thou art safe. What is thy wish? I offer thee my all.
May the flames guide thee.
After rescuing Dusk
I have awaited thee. Thou hast rescued Princess Dusk,...and rid us of that terrible primeval human. Even halting the spread of the Abyss! I salute the grandeur of thine enterprise. Please, allow me to express my gratitude. I thank thee... as do we all.
I will remember thee, but I will keep thy story to myself. This is the best way, for thou art come from a time far ahead. No-one will sing thy praises, but yet thy greatness shall live on. For it shall be my purpose, to remember all thou hast done for us.