@frascati
I came here to find out how to form an elliptical cone, but didn't see a simple way. So I had to figure it out for myself.

Yea, this is an old thread. I'm posting this here in the hope that someone else searching for the solution might find it.

• Draw a circle.
• Make a triangle with one point on the centre of the circle, one point on the edge, and the third point at the height you want the cone.
• Select the edge of the circle.
• Choose "Tools —> Follow Me" and click on the triangle's face. You should now have a circular cone.
• Choose "Tools —> Scale". A yellow box with green handles should appear.
• Click on the centre green handle on the vertical box of the selection that is in the dimension you want to make smaller to create your ellipse.
• Touch the modifier key that causes both sides to scale about the centre. On the Mac, that's the OPTion key.
• Move the cursor inward until you get the size of ellipse you want, or type a scale factor into the "Measurements" box.

That's how I created the following elliptical cone, with a length-width ratio of 0.5.