From the wording the only options are, caring for it, or let it die, either by killing it or neglect. It's just interviewer speak for if you have an unavoidable burden how do you deal with it. It omitts, maybe intentionally, that the analogy of the white elephant hinges on the fact that because theyre holy you also arnt allowed to let it die or you'd be shunned, maybe as way for the interviewie saying he'll solve the problem though direct but possibly negative means.
If you ever get this question say you'll use it for farm work or some shit showing you can exploit something most see as a burden.
My real life non pr answer: elephant kill dozer.