Views/Views slideshow confusion
Views Slideshow does not come with the views module. Therefore you will not see it by default.  You have to download and enable the views_slideshow module to see this option.

There is alot of other contrib slideshow modules as well

Related modules


Views Slideshow Menu
Views Slideshow Slider
Views Slideshow Imageflow
Views Slideshow Dynamic Display Block  (My Favourite of this list)
Views Slideshow Galleria
Views Slideshow JCarousel Thumbs
Views Slideshow Xtra


Most of these module does not have a supported Drupal 7 version,  however most of their Drupal 7 dev version will be stable enough to use.  I know I have used views_slideshow_ddblock without any troubles.