Ellipse Select is only available on the Paint tab.
Use Ellipse Select 
to select an area of the picture by drawing a circle or ellipse with a rectangular selection box around it.
Click Ellipse Select and the pointer changes to the ellipse select pointer
. Click and drag around the area that you want to select.
If the wrong area is selected, click in the active window, but outside the selected area, to deselect.
To resize, click and drag one of the corner resize handles as desired. Rotate the selection to any degree with the rotate handle. Click and drag inside the selection to move it to a new position in the picture.
Use Add to Selection
with any select function to increase the selected area, or use Remove From Selection
to make the currently selected area smaller.
After selection, move, delete, cut, copy, resize, rotate, or mirror the selection. Crop the picture so that only the selected area remains. Apply image effects to enhance or adjust only the selected area.
Ellipse Select is enabled until another tool is activated. Right-click to deselect.
Shortcuts
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Paint Tab, Select:
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Keys: Alt, P, E
Select an Area with Ellipse Select
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Click Ellipse Select
.
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Click and drag around the desired area of the picture. The selection will be shown by the dashed selection box.
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If you want to make a new selection, click outside the current selection to deselect it. Then draw a new ellipse around the required area.
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Ellipse Select is enabled until another tool is activated, or you right-click to deselect it.