One of the things we get to see in Season 4 (which we now have on DVD) is the emergence of Julia as a terrific physical comedienne. She's grossly underrated, which we should expect, having worked in the shadow of one of the all-time greats. But while Michael Richards gets well-deserved credit for all his shtick, Julia gets no credit whatever for hers. It's so much more than the get-out shove.
I especially like the cough/stutter when she lies or says something uncomfortable or embarrassing. I enjoy her facial expressions. Watch the look on her face when Kramer convinces her that Dr. Reston would want to hear how often they "do it." Watch her expression when it begins to dawn on her that Jimmy is the other guy. Look at her face when she opens that bathroom door on the airplane or when she says, "Oh, they've got cookies." And the body English Julia adds to so many of her lines.
So much of what Julia does is so fused with the Elaine character that, unfairly, her shtick almost disappears.