I've tried carbon copy cloner and diskMaker. The resulting thumb drive has not been bootable. When I hold down Option at start-up, the usb drive shows up as an option, but in fact the iMac will not start if it is selected. It does not show up at all if I look at start-up in systems preferences.
Then I came across this from Apple:
Use the version of OS X that came with your Mac, or a compatible newer version
Your Mac is designed to work with compatible versions and builds of OS X. If you try
to use a version or build of OS X that's not compatible with your Mac, your computer
might behave unexpectedly.
Avoid using versions of OS X that are older than what came with your Mac. If you copy older system files
from another computer to your Mac, or try to use startup disks designed for older computers, you might
see one or more of the following:
Your Mac doesn't start up, or you see a prohibitory symbol at startup . . .
So . . . does this put the kibosh on my attempts to install an older system alongside El Cap?