This common slang term for a
useless gift or person is also a slur for conservative
GOP Republicans, especially rich, "white," elderly members of the party.
It is a play on the common usage of the term (implying such individuals are
useless or even a burden) and upon the wrinkled appearance of the animals.
The phrase originally comes from the actual white elephants of India which were considered sacred property of the
king, above doing work, and were given as supposed rewards to loyal subjects, but due to the expensive nature of keeping an elephant and the fact that they were forbidden from making the
beast labor the gift could actually end up ruining the recipient, and was sometimes intended to. Politics can be brutal!