Have one or two of your larger girls dress up in a gray camp blanket with sock trunk and Guide scarf ears (safety pinned together). One girl walks the elephant out into the ring saying it is a pet and can do tricks. Do a few - stamp out a number, trumpet, dance in a circle etc.
Then for grand finale, she can jump over a person. Have the "elephant jump over one or two girls lying side by side". Then add the "person to whom you would like to tease" Unbeknownst, the elephant has a water bottle or dish soap container loaded with water ready to squirt. On the final jump, as they jump, mention that unfortunately the baby is not yet toilet trained! The elephant squirts just as this is being said, it takes the crowd a second or two to realize its just water.