A possession, project, or investment that is valuable or impressive in appearance but is costly, troublesome, or impractical to maintain; a burdensome luxury.
An asset whose maintenance expenses, inefficiency, or lack of utility render it more trouble than it is worth.
2.
USUKinformal
An unwanted or impractical gift, especially one exchanged for amusement in a gift-swapping game commonly called a 'white elephant' exchange.
An actual rare or sacred pale-skinned elephant, historically regarded as an auspicious and valuable animal in some Southeast Asian cultures; such a gift could also prove burdensome to its recipient.