Philo is probably a waste on rammus. Eleisa is just a trap item completely, avoid it like the plague.
Start machete + 5 because you basically have to, and get boots 1 asap. If you can keep blues, you can leave off on upgrading machete, but otherwise you probably need to get spirit. Depending on your gold income and enemy team, get either giant's belt or finish boots (mobility/swiftness) first. After that, build according to what you need - finish golem, get homeguard, get more hp/resist combo items (sunfire, locket, aegis/bulwark, randuin, banshee), get cdr (locket/fh/iceborn).
Homeguard is amazing on rammus - it also helps out his sustain issues since the recall refills you instantly. With boots of mobility, you can reach mid outer turret within the 8s homeguard boost, so you lose very little time. Rammus wants to be ganking as much as possible, so even with blue he can sometimes find himself running out constantly ganking every lane.