The One Eared Elephant is a maneuver in which a man turns one pant pocket inside-out while simultaneously exposing his penis through the zipper of said pants.
Have you ever seen a one eared elephant? Do you want to?
A variant of one of the penis-showing game's presentations whereby a man hangs his flacid member through his zipper hole and untucks one of the front pockets in his pants-thereby creating the image described by the name.
"Last night we were watching the game at Nick's house and when Kevin was coming back from taking a leak he got all of us with the one-eared elephant."