Yes, this is really it.
(1) A blue elephant: Republicans? In blue? I guess they don’t have a lot of confidence this election.
(2) Elephant is doing what?: Your guess is as good as mine. Gay dancing? Trying to engage in fornication with ‘2008’? All of these are good guesses. But in actuality, he is looking over an imaginary bathroom stall. After all, check out his wide stance (and he is, after all, in Minneapolis).
(3) Wearing prison stripes: Because that’s where they all end up eventually…
(4) Elephant apparently stoned: Seriously, what’s up with its eye?
(5) TM symbol: Because the GOP just can’t get away from government regulation which protects large corporations