The types of conic sections are circles, parabolas, hyperbolas, and ellipses.
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The only thing I can think of is a lobbed shot at the basket will approximately follow the path of a parabola, which is one of the conic sections.
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An ellipse is a conic section which is a closed curve. A circle is a special case of an ellipse.
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Conics, or conic sections, are the intersection of a plane with an infinite double cone. If that plane cuts both cones, it is a hyperbola. If it is parallel to the edge of the cone, you get a parabola. If neither is the case, it is an ellipse. The ellipse is also a circle if the plane is perpendicular to the altitude of the cone. Note that none of these are the case if the plane passes through the vertex of the cone.