Scott Ayers has a low-res elephant at Pixelatious Creations. Look in Poser Stuff.

VK has a baby elephant posted in Free Stuff at 3D Commune. You can also download it here.

brycetech had a pink elephant freebie available at 3D Commune for a while, but it's gone commercial. His adult elephant is only $7.

Debra Ross has baby and adult elephants for sale at Vista Internet Products.