This has been discussed a lot previously (on TS), and I've forgotten details, but as I recall it was never an official mascot. The elephant was on loan from a traveling circus or some such.
Correct me if I'm wrong. Lady Friend does it daily.
That's probably correct. Dad graduated UA in 1950. I just remember when I was young he told me about an elephant mascot. Only elephants I saw when I was young were on TV, the old Tarzan movies with Johnny Weissmiller sp? Too bad I can't ask him now.