
A white elephant gift exchange isn't an exchange where you expect the great and the fabulous, it's more of one where you get "re-gifted" items and the bad, the good, and the ugly. At an elephant exchange everyone brings in on gift that is already wrapped and puts it in the middle. Then everyone draws a number in which the order of the gift unwrapping will go. (the higher the number the better)
When it is your turn to pick you can choose to unwrap another gift from the table or take one that someone has already unwrapped that you have been eye balling.
TIPS: Wrap ugly and bad presents in really decorative paper and pretty bows and the good presents in the ugly kind of paper.
Ideas for an elephant exchange:
half used anything(lotions, perfume, etc)
fruitcake
buy Zimbabwe dollars. $15 is $5300 in this country people will freak
workout videos!
framed, blown up picture of your boss
recycled gifts from last years elephant exchange
ugly Christmas sweater
useless trinkets
a dancing santa
make a sock puppet(or use a paper bag)
A singing trout
A hidden treasure( like money or a gift card in between the pages of a dumb book)
this is what The term white elephant means
http://www.blurtit.com/q685541.html
cheesy youtube video
http://www.youtube.com/watch?v=l-m1Yx5oh1M

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