Your question is not very clear, but I assume you want to create an XElement that when written to a file will look like this
Event Status
This is one way to do it.
XNamespace ns = "should probably be the XSD namespace";
XElement documentation = new XElement(ns + "documentation");
documentation.SetValue("Event Status");
XElement annotation = new XElement(ns + "annotation");
annotation.Add(documentation);
XElement eventStatus = new XElement(ns + "element");
eventStatus.SetAttributeValue(XName.Get("name"), "EventStatus");
eventStatus.SetAttributeValue(XName.Get("type"), "xsd:string");
eventStatus.Add(annotation);
XElement root = new XElement("root", new XAttribute(XNamespace.Xmlns + "xsd", ns));
root.Add(eventStatus);
string s = root.ToString(); // Just a debug test line
