A party where people (usually family, friends, or a combo of the two) get together and have a game where you unwrap, steal, and trade off presents never actually useful in real life. I mean, my family W.E. party got me a laser tape measure!

"What's up! How did the White Elephant party go?"
"I got a laser thingy!"
"Ooh! That sucks."
"Are you kidding?! That thing is awesome! You push the button and a little red dot comes out!"
"..."

White Elephant by Drumline December 28, 2005

white elephant

1)A gag gift, usually an unwanted gift that is rewrapped and redistributed. 2)Bundy Gift.

I got this Joey Fatone Bobblehead doll from that turkey across the street. What could I do with it? I know, It can be the White Elephant at the Christmas party this year!

white elephant by Bedford Hopeful November 8, 2004

white elephant

a project/venture/possession whose cost of maintenance is way higher than its rating of usefulness.

the freedom tower in NY is currently a major example of a white elephant, they could have just built the WTC Twin Towers II instead.

white elephant by jackass25 June 14, 2010

White Elephant

A valuable item or act that requires expencive upkeep. Often the upkeep is not worth it.

The war on terrorism is a large white elephant.

White Elephant by Halfofone July 10, 2005

White Elephant

A sexual act in which a male lines cocaine on the staff of his erect penis for his female counterpart to consume. The female then proceeds to perform oral sex and upon ejaculation, the male pulls each of the female's ears away from her head and thrusts into the back of the throat, causing her to look like dumbo and make the sound of an elephant.

Last night sure was fun when I white elephanted your mom.

White Elephant by Schnappattack December 14, 2013