There are a lot of competing ideas as to what a white elephant gift exchange really is. The origins of the term “white elephant” point to one definition: According to legend, the King of Siam would give a white elephant to courtiers who had upset them. It was a far more devious punishment than simply having them executed. The recipient had no choice but to simply thank the king for such an opulent gift, knowing that they likely could not afford the upkeep for such an animal. It would inevitably lead them to financial ruin.
While that story is almost certainly untrue, it can inform one approach to the white
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