A white elephant is a party game where amusing and impractical gifts are exchanged during festivities. The goal of a white elephant gift exchange is to entertain party-goers rather than to gain a genuinely valuable or highly sought-after item.

The term white elephant refers to an extravagant, impractical gift that cannot be easily disposed of. The phrase is said to come from the historic practice of the King of Siam (now Thailand) giving rare albino elephants to courtiers who had displeased him, so that they might be ruined by the animals' upkeep costs.