In Physics and Differential Geometry usually tensors of type $(k,l)$ on a vector space $V$ over $\mathbb{F}$ are defined as multilinear functions
$$f : \underbrace{V\times\cdots\times V}_{k \ \mathrm{terms}}\times\underbrace{V^\ast\times\cdots\times V^\ast}_{l \ \mathrm{terms}}\to\mathbb{F}$$
this makes it quite simple to gather some understanding of $(k,0)$ tensors from one intuitive point of view. They are just $k$-linear functions of vectors and can be used like linear functions of vectors or like inner products and so on. Also it is not hard to see why one would care about these.
Now, on the other hand, tensors of type $(0,l)$ also appear in Physics quite frequently. Indeed Maxwell's Stress Tensor is:
$$\mathcal T = \epsilon_0\left[ \mathbf{E}\otimes\mathbf{E}+c^2\mathbf{B}\otimes\mathbf{B} -\frac12\sum_i\mathbf{e}_i\otimes\mathbf{e}_i\left(E^2+c^2 B^2\right) \right].$$
Those objects are not much intuitive IMHO. First, a tensor of type $(0,l)$ is a function of linear functionals in this approach, and this makes it a little bit harder to make sense from a physical and geometrical point of view.
The other possible approach to tensors is the one based on the universal property. As far as I understand, the basic idea of this approach is that in the end the construction (with quotient spaces and so on) shows that there exists a way to make sense of the product $v_1\otimes\cdots \otimes v_k$ and that it has all the nice properties we would want.
In that case, a tensor of type $(0,l)$ as defined above is an element of $V\otimes\cdots\otimes V$. Of course to understand those objects, it suffices to understand for $v,w\in V$ how $v\otimes w$ can be understood.
So my question is: I know the constructions are isomorphic and I know from a rigorous point of view what $v\otimes w$ is, now how can one intuitively make sense of $v\otimes w$? Again, thinking of it as a function of linear functionals doesn't seem much intuitive. So, just regarding it as an element of $V\otimes V$ how can we give to it some geometric and physical intuition?
The object $v\wedge w \in V\wedge V$ has one nice way to be understood: it can be thought of as the paralelogram generated by $v$ and $w$, that is one oriented area in the same way as $v$ and $w$ are oriented segments. Now, is there a nice way to understand $v\otimes w$ too?