Dwarves.
Dwarfs Actually it's dwarves, dwarfs is a verb (as in that man's height dwarfs the other man).
The plural form for the pronoun 'it' is 'they' for the subject and 'them' for the object of a sentence or clause; fro example: There is a book on my desk, it is a math book. There are books on my...
The only possible plural form of "it is" would be "they are".