a pandelephant is really an elephant that is black and white (like a panda). you might think it's a panda with a trunk, but really, it's not because the word "pandelephant" has more of the word "elephant" than "panda" in it.

Pandelephant is a name given to a good-luck keychain that is a panda in an elephant suit. The panda is black and white, and the elephant is blue.