IAM Policy which allows for basic ElasticBeanstalk usage.

gistfile1.txt

{
  "Statement": [
    {
      "Effect": "Allow",
      "Action": [
        "elasticbeanstalk:*",
        "ec2:*",
        "elasticloadbalancing:*",
        "cloudformation:*",
        "autoscaling:*",
        "cloudwatch:*",
        "s3:*",
        "sns:*"
      ],
      "Resource": "*"
    }
  ]
}