Port Elliot is a town in South Australia toward the eastern end of the south coast of the Fleurieu Peninsula. It is situated on the sheltered Horses…Port Elliot is a town in South Australia toward the eastern end of the south coast of the Fleurieu Peninsula. It is situated on the sheltered Horseshoe Bay, a small bay off the much larger Encounter Bay. Pullen Island lies outside the mouth of the bay. At the 2006 census, Port Elliot had a population of 1,754, although this section of the coast is now built up almost all the way from Goolwa to Victor Harbor.