A "white elephant" refers to a possession that is more trouble than it is worth. The term originates from ancient cultures where a rare, sacred white elephant was considered a burden due to the high cost of its upkeep. Owning such an animal was both a status symbol and a financial strain. In modern contexts, "white elephant" often describes a type of party or gift exchange where participants give away unwanted items. Guests bring items they no longer need, and the goal is to entertain rather than to acquire valuable gifts, making it a fun and lighthearted social event.