Since
Isabelle is said to be another form of Elisabeth/Elizabeth, the form Elizabelle is not that far-fetched imo. But I think I like Elsabelle better.
Lilibeth is my favorite form of
Elisabeth.
Lily is sometimes used as a nn for
Elizabeth.
I don't mind combination names (I find it rigid to hate a name just b/c it is a new combination of name parts), but it has to be done with style. And what is good or bad style is always a question of personal taste.
"You sought a flower and found a fruit. You sought a spring and found a sea. You sought a woman and found a soul. You are disappointed."
"It does not become me to make myself smaller than I am." (
Edith Södergran 1891-1923)