Pros/Cons for getter and setters of collections

Question

I'm creating a model where one element can contain other elements. I'm currently writing the interface to the model, and I'm not sure which is the best of the two options:

Option 1

interface Container {
  List<Element> getElements(); // returns an unmodifiable list.
  void addElement(Element e);
  void removeElement(Element e);
}

Option 2

interface Container {
  List<Element> getElements(); // returns an unmodifiable list.
  void setElements(List<Element> elements);
}

What are the pros/cons of each option? Furthermore, are there "accepted" naming conventions in these cases, like using children instead of elements?