The four commonly known elements are Earth, Air, Fire, and Water and are considered in metaphysics as the four basic components that go to make up life itself. These elements all have different vibrations which, when properly aligned, can often help to produce the desired results in your magick.
There is however, a fifth element used by many practitioners of the craft – Spirit (sometimes called Akasha). Spirit is considered by some to be the fifth point of the pentacle as opposed to the circle itself. Spirit is there to keep the other four elements balanced for good.
Whenever spellwork is being considered (especially if you craft your own spells) the attributes of the elements should always be taken into account as this could increase the effectiveness of the spell.