I think that an individual with class is well-spoken, gracious, and able to make all persons feel at ease, regardless of social status--from the clerk in the grocery store to the wealthiest person in town,--the individual with class will make each person feel that they are important. A person with class always demonstrates good manners (please, thank-you, yes ma'am, thank you sir, etc..) and never speaks ill of another person.
Now, an elegant person is always well-groomed (clean face, complimentary hairstyle, clean nails, etc...) and looks appropriate for the occasion. To me, an elegant lady never wears too many accessories, and carries a nice handbag (oh how I long for a Hermes Birkin bag!!!). An elegant lady sits like a lady (ankles crosssed) and also is able to engaged in and hold her own in a variety of conversations. Finally, an elegant/classy lady does not allow herself to "lose it" in a heated argument, etc....
"We make a living by what we do; we make a life by what we give" Winston Churchill