f you've never participated in a white elephant gift exchange, you are missing out and should try to join or start one at your earliest convenience. If you don't even know what a white elephant gift exchange is, that's understandable—the term comes from ages ago, when, supposedly, kings of Siam (now Thailand) would give white elephants to members of the royal court whom they didn't like. The idea is that a giant elephant costs far more in upkeep than it does just to obtain, and the reason for the gift would be to financially ruin the recipient. Nowadays, thankfully, the term generally refers to a gift that has little use or value.
The key to nailing down a great white elephant gift to give is buying something as ridiculous as possible.
When you have to get a white elephant gift for an exchange, part of the fun is getting someone something a little outlandish that is of very little use to them. For example, a DVD of the movie Magic Mike might be a good idea. Or a pair of "Fun Slides" Carpet Skates.
The key to finding a great white elephant gift is to think of what you know about either the person you have to get for (if it's not a group exchange) or the group of people with which you'll be swapping. If you're going into an office gift exchange, keep things a little cleaner. Thankfully, a website called Stupid.com sells plenty of things that will satisfy the need for a bad gift—how about a cow figurine that comes with different outfits for every season and major holiday of the year? Nailed it.
If you're doing this with friends or family, you can take a little more liberty. If you're feeling a little riskier, check out DickTowel.com, where you can purchase a towel with a cartoonish print of a naked man's lower half on it. The limits to what you can find for a white elephant gift exchange are practically non-existent—just remember the one rule: the more ridiculous, the better.