Here's a pic of a few of my jungle Elise game records
This is a work in progress, will update as I test out more combinations and strategies.

Someone call top when you want to Elise? Or happen to want a change of pace from your normal ad/tank junglers? Not a problem, just go jungle. You may be surprised how well she does.

Strengths

Safe Jungle

Spiders will tank for you with good positioning.
Spiders heal you with their attacks.
If you get ganked in the jungle you can spider form and E to jungle creeps over walls.
She's a strong duelist with her stun and high burst.

Fast Jungle

With her high burst she can q + w combo a camp in caster form then go spider with w + q for very quick clears.
Her e allows her to jump over walls, shortening her travel time while in jungle

Ganks
With her e and flash she can jump into lanes quickly, her web stun can easily ensure a kill, especially if you have some form of cc already in lane.
Once she gets Rylais her ganks become especially terrifying, slows on top of all her burst and her stun usually mean someone's dead.
When tower diving it's best to save her spider e rappel for after you've finished an opponent off, or if you need to drop turret aggro. Her e resets turret aggro to an ally champion or creeps.


Weaknesses

Her e does require an enemy unit be around or within your circle to jump to. If you were counting on e'ing to some minions that happen to have died or moved out of range you'll just hang there.
She won't be nearly as tanky with this build as say J4 or some of the other tank junglers. So you'll need your top to fill in that role.

Lately with a lot of my junglers I've just been getting Hunter's Machete and skipping onto more of my core builds, usually rushing some sort of lifesteal first to sustain in the jungle. I've felt that while the items were good they didn't really fit in with the specific champions and builds I have been going with.

Spirit of the Spectral Wraith: This item is amazing for Elise. It's relatively cheap, provides a good source of health and mana regeneration, while also providing spell vamp and cdr. Not to mention it lowers the cd of your smite summonerm and improves damage done to monsters. If you happen to be running with the smite mastery that's more gold for you throughout the game. In my last game managed to go full build and solo baron, with the spider minions tanking and Elise spell vamping with this item to sustain herself. She can accomplish early dragons quite easily once this item is complete as well, as with good positioning you can have your spiders tank the dragon.

To Be Continued...