Historical version 6 of Locale Elephant And Castle (view current version)
The area around Elephant and Castle Roundabout, known locally as 'The Elephant' or even just 'Elephant'.
Curiously, there is a restaurant in New York named after it.
It is generally accepted (by some) that Elephant and Castle gets its name from a Spanish prince - El Infanto Castille. In fact this is a subject of much debate, for more see here, here, here and here.