Elf files are usually burnt along with other files onto a CD, download Independence Compiler and you can make a exploit very very easy using that, to be honest i don't have a clue to what dev.1/dev.2 script are, there's not a particular way to burn them but there's a guide on creating a exploit and burning exploits on http://www.exploitstation.com/
Check out http://www.ps2dev.com for help on the forums dealing with elf files.An elf file is a executable file dealing with linux,you will have to be familiar with linux to know how to make elf files.As mentioned from p4_tt you can use them with independence exploits.Hope this helps you out more,not alot I can do to help you out with elf files creating them but the people off ps2dev could help you out might want to check there.
All right, I have a modded PS2 v10 console with DMS4 Pro chip. I installed DMS HDD Explorer. I am now trying to install extra applications. Everytime I burn a disc with the elf\script files, in HDD Explorer it says 'Unable to Locate Script', 'Installing Applications' then freezes, or 'Installtion Failed (1)'. What are the steps to take so I can install my applications?
P.S. I am using Nero Express 6.6.1.3 and takeing the elf\scripts from my PC's hard drive in 'Data Disc' mode. I have already tried every possible way to burn an *.iso. Do I need to turn of Virus scaning\Firewalls while burning?