What is the usual budget for a White Elephant gift exchange? The budget for a White Elephant is usually on the lower side. WhiteElephantRules.com recommends a $20 budget cap for most gatherings.

The practice of holiday swap parties began in the 1890s, possibly even in Marysville, Ohio, according to The New York Times.Somewhere along the way, swap parties picked up the "white elephant" name.

Host a White Elephant Gift Exchange Also known as a Yankee Swap or Dirty Santa, a White Elephant gift exchange game's "stealing" aspect gives it an element of unpredictability. Here's how it works.

So while the gifts at a Christmas White Elephant exchange aren't usually expensive, they're often silly or impractical. You might find yourself in a gift exchange such as White Elephant or Yankee ...