You're sleeping on the elephant, methinks. Yellow is too low a rating for it as an animal companion. It's got solid defenses, and is one of the few animal companions to have high strength and and no attacks on it's forelegs, letting us take the incredibly efficient Evolved Companion: Claws. 7 baseline natural armor, 22 str, 17 con and four primary natural attacks is an impressive package. He won't do big cat damage, but he makes the horse look bad.
