Ideally, the elephant must be made of leather, but I sewed it from the felt.
According to the fold you need to cut a place in the zipper. Arrows indicate folds.
Now we are laying folds, legs and fasten.
Sew a cut trunk, torso upright right and left
It remains to sew the bottom, otherwise all the money from her purse bye-bye)))
It is quite simple, if you calculate the size of a circle, a small elephant that I find it easier to do this by trial.
Of course, you can make the lining more, it is quite simple.
The size and proportions of elephant can be changed, the main idea tutorial - this is the concept of a cut.