"Blend of Ella and Rae"
The name Ellarae is commonly a female name from the "English" origin.
Ellarae is a modern American formation that combines Ella with Rae, with the second element spelled as it appears in Rae and in names such as Raelynn. The name first appears in United States birth records in 2003, which places it among recent coinages rather than names inherited from an earlier tradition. Its meaning is compositional, drawn from the two names it joins, and no separate etymology is recorded for it.
The pronunciation of Ellarae is EL-uh-ray.