The "Elbow" mechanic and violation comes in two forms.

Excessive throwing of Elbows is a violation without a PF if no contact is made. Turnover.

If there is Contact made with the "flying elbow(s) - same signal but record and log the foul on the offending player.

Q: Is this player control? Do you shoot F Throws?

RSVP

If it's a foul, it's the same as any other foul.

PC if the offender had the ball (and it wasn't intentional or flagrant -- official's judgment). There are never any throws for a PC foul.

Not the same signal. The violation is an open hand followed by the elbow violation signal(signals 2 & 22). The "swinging elbow" illustration in the rule book is a violation only signal. The PC foul signal is a closed fist with the hand behind the head(signals 5 & 13).

As Bob said, illegal contact with the elbow during a live ball can only be one of three types of fouls: PC, Intentional, or Flagrant. Use the appropriate signal for each foul.

Mregor