The Elephant is one of the most austere revered animals in both Hinduism and Buddhism
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It symbolizes fortitude and mental strength
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Ganesha is the Elephant-headed god worshipped in Hinduism and is known as Vināyaka in Mahayana Buddhism, it is said that he resides in the Muladhara, the First Chakra:
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The Chakra’s color is red, which is the color of Shakti, Shakti means energy, movement, awakening and development, Ganesha holds, supports and guides all other chakras, thereby "governing the forces that propel the wheel of life"
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Perhaps Evening/Night symbolizes the death of the person and the Elephant symbolizes the totality of the strength and energy of that person in his final moments, hence the name "Evening Elephant"