The Bullet Elf is a close range rush down character. She needs to be in the thick of the action which is where she is most effective. Quick OTG's like ↓+K and her air EX ↓+[P] help keep her combos going in the air and on the ground.
The first 8 Hits is spent on the ground, after which the enemy is launched into the air where the rest of the combo continues ending in a knockdown.
Basic Combo Stratagy
She can perform lengthy ground combos, however this can leave her open to attack if she remains stationary for to long. Use her Dash Slash (→→+P) to move out of harms way while attack to keep your combo going. Her mobility options also help her stay in the thick of the action, use her long range jump (→→+J) and dash (→→) to cover distance quickly.
Great EX Air Moves are ↑+[P] which does a lot of hits, and ↓+[P] which causes a ground bounce that enables her to restart her air combo.
Key:  = Holding a button