\begin{tikzpicture}[tqft/flow=east]
    \node[tqft/pair of pants,draw,rotate=-180] (a) {};
    \draw (-1.02,-1) ellipse (0.2cm and 0.35cm);
    \draw (-1.02,+1) ellipse (0.2cm and 0.35cm);
    \draw[dashed] (1,0) ellipse (0.175cm and 0.35cm);

    \draw (2.3,0) ellipse (0.7cm and 1.5cm);
    \draw (2.3,+0.5) circle (0.3cm);
    \draw (2.3,-0.5) circle (0.3cm);

    \node at (1.38,0) {$\stackrel{\sim}{=}$};
\end{tikzpicture}