Amaging White Elephant
A white elephant is a possession which its owner cannot dispose
of and whose cost, particularly that of maintenance, is out of
proportion to its usefulness. In modern usage, it is an object, building
project, scheme, business venture, facility, etc., considered expensive
but without use or value.
In the West, the term "white elephant" relating to an expensive burden
that fails to meet expectations, was first used in the 1600s and became
widespread in the 1800s. The expressions "white elephant" and "gift of a white elephant" came into common use in the middle of the nineteenth century.
It was a blessing because the animal was sacred and a sign of the
monarch's favour, and a curse because the recipient now had an
expensive-to-maintain animal he could not give away and could not put to
much practical use. After much effort and great expense, Barnum finally acquired the animal
from the King of Siam only to discover that his "white elephant" was
actually dirty grey in color with a few pink spots.
Sources : Wikipedia & Google Images