Once the surface is created, you can generate contours.
You will need to use the POINTELEVATION option for the input data type. Using the Topo to Raster tool you can create the topological surface. Make sure the Spatial Analyst extension is enabled.Right click on the layer name in the Table of Contents, click Data and then click Export Data… To make this a permanent feature class, you can export it.Click OK to add this as a temporary layer to your map. Browse to the location of the Excel file, and select the fields that contain the x and y coordinates.
On the top bar menu, click Tools then click Add XY Data.Open ArcMap and browse to the location where you saved the Excel file you saved in Step 1 and open that file.Click Next and set the delimiters (tab, space, semicolon, etc…) and then complete the rest of the dialogs for the wizard.