Sadly, the elephant no longer measures up to New Zealand Safety Standard codes and contractors recently removed the ladder and slide.
The slide was donated to the playground by the Oamaru Round Table in 1981.
It had reached a stage where repairs to make it safe would be very expensive, Waitaki District Council parks officer Jane Matchett said.
"It's a shame the slide had to be removed because it's been such a great source of enjoyment for children over the years. But it just wasn't safe any more and we were left with no choice but to remove it," she said.
No firm estimate had been made of how much repairs would cost, but it could be "thousands of dollars".
The council could consider a proposal, such as from a service club, to repair it.
The stainless-steel slide had deteriorated to such an extent it was dangerous and could cut children.
The ladder, to meet safety standards, would need a platform part way up.
When the ladder and slide were removed, the platform on top of the elephant became unstable.
Plaster on the elephant had cracked and was falling out.
The site was favoured for new public toilets at the playground, close to the car park.
The structure will remain in place until plans for upgrading the gardens and playground are decided.
It would eventually have to be removed if it was not restored, Mrs Matchett said.
Colin O'Hara, who used to be involved with Oamaru Round Table, recalled how the elephant was built for a Round Table convention in Timaru and pushed into the venue on wheels.
It ended up on a farm at Timaru and the club thought it would be a project to put it in the gardens.
It created a lot of interest as it was brought south.
It was a "bit sad" to hear news of its retirement, Mr O'Hara said.
