<ul>
// Define our WP Query Parameters
<?php $the_query = new WP_Query( 'posts_per_page=3' ); ?>
// Start our WP Query
<?php while ($the_query -> have_posts()) : $the_query -> the_post(); ?>
// Display the Post Title with Hyperlink
<li><a href="<?php the_permalink() ?>"><?php the_title(); ?></a></li>
// Display the Post Excerpt
<li><?php the_excerpt(); ?></li>
// Repeat the process and reset once it hits the limit
<?php
endwhile;
wp_reset_postdata();
?>
</ul>