The phrase "white elephant" refers to something that is costly or valuable to own, but is very impractical or burdensome to maintain or use. Full definition
Favorite holiday memory / memories: doing white elephant gift exchanges with friends — the presents and the process are always a riot! (thechrisellefactor.com)
Because a tower of white elephants in a room is just cool. (theinspiredroom.net)
One of my favorite holiday memories was playing white elephant with some of my close girlfriends! (thechrisellefactor.com)