If I understand it correctly every demon is born out of the emotion they feed on.
Evelynn for example came into existence because of all the pain caused by the rune wars, and now she feeds on it.
As people across Runeterra began to experience a vast array of pain, anguish, and loss, the shadow stirred. The nothingness it had known for so long had been replaced by the manic vibrations of an agonized world. The creature quivered with excitement.
As the Rune Wars escalated, the world’s torment grew so intense that the shadow felt as if it might burst. It drank in all of Runeterra’s pain, which it experienced as boundless pleasure. The sensation nourished the creature, and over time, it transformed into something more. It became a demon, a ravenous spiritual parasite that fed on the basest of human emotions.
A demon that feeds on happiness would certainly be interesting though.