Lyric discussion by fattyjoan 

oh and i like your 'elephant in the room' interpretation. it goes perfectly with how i see the song

nice interp, But...ever hear the expression "white elephant"?

(lifted from Wiki for convenience sake)..." a white elephant is an idiom for a valuable possession of which its owner cannot dispose and whose cost (particularly cost of upkeep) is out of proportion to its usefulness or worth"

Look no further for your "painted elephant".

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