The "fireworks" singer has teamed up with artist Erin Lareau to decorate the statue for a fundraiser for Asian elephant conservation, reports dailystar.co.uk.
The piece, which the pop star nicknamed "Dumbina", is adorned with colourful stripes, sparkling crystals and Perry's initials.
"My elephant was inspired by my California Dreams Tour and Candyfornia – a magical, glittering place where everything is sweet! The crystals that adorn the elephant are precious, just like the Asian elephants that need our protection. Let's raise awareness," she said.
Perry's elephant will go under the hammer in an auction in Milan, Italy.