This is seen as an island; see Ezekiel 27:7. Josephus identifies it with the Aeolians (Antiquities 1:6:1), who were known to have inhabited the island of Lesbos (Herodotus 1:151). Others, however, identify it with Sicily (Abarbanel). This is supported by the Targum which renders it Italia (Targum on Ezekiel 27:7).
Talmudic sources identify Elisha with Alsu or Elis (Yerushalmi, Megillah 1:9; Bereshith Rabbah 37). This may be identified with Elis, an ancient land in Peloponnesus (southern Greece) along the Ionian Sea (see Iliad 2:615). A small village, Ilis or Eleis, currently remains on the site of the city of Elis. In the interior of the country was the sanctuary and valley of Olympia, where the quadrennial Olympic games were held for over 1000 years.
Others identify this Talmudic source with Hellas, since the Greeks called themselves Hellas or Ellis (Kesseth HaSofer). This was indeed an ancient appelation for a Greek tribe (cf. Iliad 2:681; but see Thucydides 1:3). It may also be associated with the Halys River, which separated the Greek-dominated area from the Asiatic. The name Helles is also found in the Hellespont, the channel that currently separates Europe from Asia (the modern Dardanelles).
Despite all this, they came from sout-east Asia. However the Greek "Ego" and Malay "Aku" might indicate an ancient connection.