An ellipse is a circular shape that is often referred to as an oval. The Ellipse tool in Photoshop allows you to make ellipses that are tall and narrow, wide and short, nearly round, or any other shape you like. In many cases, an exact circle is needed instead of an oval. To access the various shape tool options, press and hold the Shape tool ( ) group icon on the toolbar. This will pull up the Rectangle, Ellipse, Triangle, Polygon, Line, and Custom Shape options. Choose a tool to draw the form you want.