Pros - Ulti from level 1. - % Damage with "Q" - CC/Mobility with "E".

Cons - Squishy early game. - Mana dependant in human form. - Can't resist hard CC .

For runes I recommend the following.


Greater Mark of Attack Speed.

Faster jungling potential, combined with the hybrid AS and AP later this makes a great difference in spider form.

Greater Seal of Armor.

Less squishier during first few jungle runs, and during first ganks. Makes you pick up FB or let someone else pick up FB easier.

Greater Glyph of Attack Speed.

Same as with the glyphs.

Greater Quintessence of Ability Power.

More damage for early game to have a easier jungle and a easier nuke.

Offense.

2 points in Butcher for easier jungle.
2 points in Brute force for a easier early jungle since 2 ap isn't worth that much.
4 points in Sorcery so you can use you (No mana cost) spider form spells more often.
1 point in Arcane knowledge to burst through that MR.

12 Points in Defense

1 point Summoner's Resolve for that extra gold while smiting.
3 points in Hardiness, more armor easier jungle early.
2 points in Tough Skin for an easier jungle.
4 points in Durabillity, because Elise is a kinda squishy champion.
1 point in Veteran's Scar for the same reason as Durabillity.
1 point in Bladed armor for your jungling speed.

9 Points in Utility

1 point Summoner's Insight to reduce your CD on Flash.
3 points in Expanded Mind for some more mana.
4 points in swiftness to chase your prey easier.
1 point in Runic Affinity to benefit from your buffs in jungle longer.

Start off with cloth armor + 5 health pots to jungle.
Then take your boots for faster jungling and easier chases while ganking.
Rush your malady for more damage in jungle and some more ap to nuke.
After that you should buy your sorcerers shoes for more speed and more magic pen. to follow up with wits end for even more AS and some MR. Nashors tooth is one of your biggest damage items as it grants you cdr, AP, AS and even some mana regen. Rylai's for some survivaility and utility on the slow and rabadon's deathcap as a nuker to finish it off.

Start of with blue or even wolves if you have teammates that can pull, and do some damage for you. then go wraiths and red.
If you have enough hp left and a lane is pushed try to gank with your "e" skill ( cocoon/rappel )
After that recall and rush your items.
Try to jungle as much in spider form so that you can give your mid your blue.

This would be the base about Elise in my opinion, I will update this guide more in the future after I played her more. If someone has any questions please post them.

Please refrain from raging in comments but give feedback to improve this guide.