noun
1. : an albinic Indian elephant of which more or less of the usual dark pigment is absent from the skin giving it a pale color and which is rare and sometimes venerated in India, Ceylon, Siam, and Burma
2.
a. : a property requiring much care and expense and yielding little profit
b. : an object (as a gadget or trinket) that is no longer esteemed by its owner though not without value to others
conducted a white elephant sale to help the church
3. : a badge or emblem showing the figure of a white elephant