I just went to the thrift store with the free aisle and took several bag fulls of 100% organic material clothing for another project (yes, when I get to it, I will post it). So I had all these free clothes, and one happened to be gray, so it will become my elephant.
Then I cut a shoulder pad in half to help keep the ears sticking out. If I did it again, I might try to find some kind of metal if I wanted to be a stickler on the ears sticking out, but I would rather be able to wash it. Maybe I would use a whole shoulder pad.
Next, I tacked on the shoulder pad to the wrong side of one piece of the ears.
Then I folded one sleeve in half and cut it just a bit longer than the hat for the trunk. (You can just barely see it poking above the hat.)
Then I put the wrong sides out (There are 2 pieces of gray material under the shoulder pad) and sewed the ear all the way around, leaving a hole at the bottom to turn the ear inside out. Then I turned it right side out and tacked my hole closed to make the ear.
So, now I piled the nose and ears on top of the right side of one piece of hat, then I put on the other piece of hat (at the top of the picture) on top of that, sandwiching the pieces in the middle. The hat's wrong sides are facing out. (You can always pin this in and turn it inside out to see if you got it before sewing.)
Then I pinned it. You want to sew the ears edges all the way down with the hat so it will stand out and not flop too much.