A brand of cigarettes in France. All the cigs are pink and have vanilla flavoring (a.k.a. they are amazing) They come in a black box with a pink elephant facing backwards on it and "Pink Elephant" written in pink.
Joe: Hey can i have a cigarette please?
((gets a cigarette))
Joe: OH SHIT these cigarettes are pink!!!!
Something so large and obvious (like a pink elephant), but nobody says a word- like it doesn't even exist, making the the whole circumstance very akward.
Fred: He brought Nancy to the dinner?
Samantha: Yes! And it was so akward- everybody knew Nancy was the girl he was seeing before we broke up, but nobody said a word!! She was, without a doubt, the pinkelephant of the night!
When you're high on drugs aka shrooms and you see a cop- he/she is supposed to look like a pink elephant- this is obviously when you're trippin and is supposed to keep you from getting caught-
I was so fucking high yesterday when we were drivin around, and then i saw a pink elephant behind us and I knew to calm down so we wouldn't get pulled over.