SHAPE: Check its shape in ancient cities of the Western-Eastern greek alphabet groups.

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SOUND: Epsilon has an eventful story: till 403 a.e.v. it was used (except in Ionic so-called eastern version of alphabets) interchangeably as:
1) /e/ short, which is exactly what it is today.
2) /e/ long open: [ε:] (later the letter H (eta) was used for that sound).
3) a long close-mid /e/ sound (check EI), later written as EI.
After 403 a.e.v. 'E' represents short /e/ as it does today.

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NAME: ETYMOLOGY: from northesmitic (phoenician): hē’ = doorlet. This letter formed the shape and name of the greek letter E. The initial /h/ of the phoenician word was thinner than the word's hêt = door (which ended up as greek letter H).
NAME: SPELLING: In greek alphabet, initially, the letter's name was «ε».
Then became «  ψιλóν» [`e] [psi`lon] = E light/short/thin),
hence the letter-name «ψιλoν» [`epsilon] .

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COMBINATIONS: DIGRAMMES: check EI [i] erasmic: [ei] and EY [ef] or [ev] erasmic: [eu].

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MORE GREEK WORDS STARTING WITH EPSILON
•ελαστικό= elastic •εκκλησιαστικό= ecclesiastic •έξω= out - exo(tic) •εγκυκλoπαίδεια = encyclopaedia •ελεγεία= elegy