In the midst of Jarrett's feud with the 3Live Kru (BG James, Konnan, and Ron Killings) in 2004, Jarrett reached into other NWA Promotions and drew out Chad Collyer, Hotstuff Hernandez, and Onyx. They were meant to be bigger and stronger mirror images of the three members of the 3Live Kru, with Collyer corresponding with BG James, Hernandez corresponding with Konnan, and Onyx corresponding with Ron Killings.
The trio proceeded to accompany "The King of the Mountain" to ringside for his matches, complete with their own theme music. The music was titled "Mercenaries of The Elite Guard". A remixed version of this song is currently being used by Austin Aries.
On June 16, 2004, the two factions finally met on a TNA weekly Pay Per View in a Six Man Tag match in which the 3Live Kru defeated the Elite Guard when Ron Killings pinned Hernandez. The Kru then responded to Jarrett's new faction by evening the odds with the addition of Ken Shamrock to the feud.
On July 7, 2004, Jarrett emerged victorious from a "Running of the Gauntlet" match that saw him outlast Shamrock, the Elite Guard, and the 3Live Kru to retain his NWA World Heavyweight Title when Shamrock turned on the Kru.
On the July 9, 2004 episode of TNA iMPACT!, the Elite Guard finally got their revenge on the 3Live Kru, defeating them in a Six Man Tag match.
The group was only together for two months, as TNA split them up after they proved ineffective as a team.
After the Elite Guard split, Chad Collyer was instantly dropped from the TNA roster, and hasn't appeared since.
Onyx and Hernandez teamed up against AJ Styles and Jeff Hardy in September of 2004 on an episode of TNA Impact, but were defeated when Hardy pinned Onyx with a Swanton Bomb. Onyx wrestled once on Xplosion afterwards and hasn't appeared for TNA since either.
Hotstuff Hernandez was released with Onyx, but has since returned to TNA as a member of Konnan's Latin American Exchange group. He returned to TNA on an April 2006 episode of Impact where he emerged from the crowd and attacked Bob Armstrong with a slapjack to help Konnan in an Arm Wrestling Contest.
As per the current storylines and initial lack of appeal, it is unlikely that the Elite Guard will ever reform or return to TNA; Onyx is currently affiliated with the WWE developmental territory Deep South Wrestling.