Great question which has sent me searching. But first I stumbled on this and had a good laugh. I'll post it now while I keep searching.
7 May 2007 I have stumbled on a book - Orders and Decorations, 1967, by Václav M??i?ka ( Mericka )
Here is an anecdote from the Editor, Dermot Morrah, in the Editor's Preface -
Over dinner one evening the first Lord Altrincham told me that the previous night he had attended a function in Buckingham Palace and was surprised to meet Sir Winston Churchill, who usually wore no decoration more conspicuous than the modest badge of the Order of Merit, resplendant in the broad pink riband and golden pendant of the Danish Order of the Elephant. 'Why these geegaws, Winston?' he said. 'I could understand if you'd worn them last night at the Danish Embassy, but why here?' The great man blushed, and said 'Well, you see, Ned, I was reading in the paper this morning how they'd had to shoot that poor elephant at the Zoo. So I put these things on to show I'm sorry.'
--Previous Message-- : : I've always had this question in mind: : : The Order of the Elephant badge has two : facing sides, the side with the diamond(?) : cross always faces outwards, and the face : with the monogram faces the wearers skin. : : I was wondering if anyone had any close ups : of Crown Princess Mary's badge because I'm : interested to know whose monogram is on her : badge (I believe when the badge is made the : reigning monarchs monogram is placed and : badges are not made often). : : : :