[Gimp-user] Image within ellipse

[lorewriter <forums gimpusers com>]

Hello!  I hope someone will tell me how to do the following  photo manipulation.
Bear with me, please.

What I want to do:  Place image inside an ellipse and color area between image
and ellipse line.  Square corners of ellipse will be transparent, of course.
 
What I can do:  Place image inside ellipse and make area outside of ellipse
transparent.  Use lasso tool to make path around image that is inside ellipse
and cut it out.  Then I can color all ellipse and transparent square except
image.   This leaves a colored square with the image centered within that
square.

Why I am stuck:  I want area between ellipse border and image to be colored as I
chose, while area between ellipse and square lines remains transparent.   I
Googled lots, learned some, but can’t do this yet.  Any suggestions will be
appreciated.

-- 
lorewriter (via www.gimpusers.com/forums)