Size and weight are big decision factors when you are trying to find the ideal camera for your needs.
In this section, we are going to illustrate the Canon ELPH 500 HS and Olympus E-PL2 side-by-side from the front, back and top in their relative dimensions. Canon ELPH 500 HS has external dimensions of 101 x 56 x 25 mm (3.98 x 2.2 x 0.98″) and weighs 185 g (0.41 lb / 6.53 oz) (including batteries). Olympus E-PL2 has external dimensions of 114 x 72 x 42 mm (4.49 x 2.83 x 1.65″) and weighs 362 g (0.80 lb / 12.77 oz) (including batteries).
Below you can see the front-view size comparison of the Canon ELPH 500 HS and the Olympus E-PL2. Canon ELPH 500 HS is clearly the smaller of the two cameras. Its body is 13mm narrower, 16mm shorter and 17mm thinner than Olympus E-PL2. As you can tell, actually this is not a fair size comparison since Canon ELPH 500 HS has a built-in lens but Olympus E-PL2 doesn't. Once you put a lens on E-PL2, its thickness will increase significantly.
Here is the back view size comparison of the Canon ELPH 500 HS and Olympus E-PL2.
Now lets look at the top view comparison of Canon ELPH 500 HS and Olympus E-PL2.
Weight is another important factor, especially when deciding on a camera that you want to carry with you all day.
Canon ELPH 500 HS is significantly lighter (177g ) than the Olympus E-PL2 which may become a big advantage especially on long walking trips.
Again, this comparison may not be very useful in real life as we are comparing the weight of a camera with a built-in lens to the body-only weight of an interchangeable lens camera. Once you put a lens on E-PL2, the total kit will weigh much higher.
Weather Sealing
Unfortunately neither the Canon ELPH 500 HS (IXUS 310 HS / IXY 31S) nor Olympus PEN E-PL2 provides any type of weather sealing in their bodies, so you have to give extra care especially when you are shooting outdoors. If weather sealing is a must-have feature for you, check these sections: Top Compact Cameras with Weather Sealing Top Mirrorless Cameras with Weather Sealing
LCD Screen Size and Features
Canon ELPH 500 HS's 3.20" LCD screen is slightly larger than Olympus E-PL2's 3" screen.
Unfortunately, both cameras has fixed screens so they don't tilt or flip in directions.