Although from the picture provided the growth appears most likely to be a mole (beauty mark), direct examination by a board certified dermatologist using both magnification and a dermatoscope (a hand-held microscope) is essential for more accurately evaluating and clinically assessing any growth. In some cases a biopsy is necessary to confirm the diagnosis.
Although removing moles by any method from the face is likely to leave a small scar, scalpel sculpting, which involves no deep cutting or stitches has, in my experience, proven quite successful for achieving gratifying aesthetic results while leaving little, or often barely perceptible, scars.
The technique, which I have been using for thirty years, involves "scultping the mole" off from the surrounding skin in a tangential fashion (i.e. not cutting deeply into the skin). Deep cutting will inevitably result in a scar, while superficial (horizontal) removal in this fashion largely avoids this. Elliptical and fusiform simply describe the resulting shape of a wound excision after cutting them out deeply and before the placement of the sutures.
Following scalpel sculpting, the borders of the mole can then be smoothed and blended with the surrounding normal skin by "dermaplaning," a technique by which the edge of the scalpel is used to delicately abrade the skin. Properly done, the entire procedure, performed under local anesthesia, takes no more than three to five minutes. In most cases, the procedure is done at the time of the consultation.