These are the steps I took (I'm on Linux).
First, as @jlars62 suggested, I tried using Switching the Graphics to "Software" and this DID work. However, the performance is far to slow so I dug a little deeper.
Then I tried running the device from the console, as @CaptainCrunch suggestion. (My device was created in Android Studio; emulator in the Sdk may be in a different place on your system)
$ ~/Android/Sdk/emulator/emulator -avd Nexus_6_Edited_768Mb_API_23
For me this produced the following error:
libGL error: unable to load driver: i965_dri.so libGL error: driver pointer missing libGL error: failed to load driver: i965 ...
Which I tracked down (on ArchLinux) to mean it's using the wrong graphic drivers (Android Sdk comes with it's own). You can force the system ones on the commandline with -use-system-libs:
$ ~/Android/Sdk/emulator/emulator -avd Nexus_6_Edited_768Mb_API_23 -use-system-libs
To force Android Studio to do this you can intercept the call to "emulator" like so (See Mike42) :
$ cd ~/Android/Sdk/tools/
$ mv emulator emulator.0
$ touch emulator
$ chmod +x emulator
In the new emulator file add this:
#!/bin/sh
set -ex
$0.0 $@ -use-system-libs