In Elizabeth's own words:
"Years before, soon after Larry Fortensky and I got married at Michael's Neverland Valley Ranch, I couldn't think of what to give Michael to show my undying thanks. He rarely invites anyone to Neverland, and this was the first time, which was so generous, such a glamorous compliment to our friendship. I had been trying to think of a truly meaningful way to thank him. Then I got an idea: Michael has a zoo. I'll get him an elephant! That clinched it. I got him a big Asian elephant named Gypsy. I guess you could say we exchanged elephants."
From Michael Jackson's Private Home Movies:
The sound is rather poor so here's a transcript of what they are saying:
(Clip of a helicopter landing on the ranch and Elizabeth coming out with two men)
MJ: One day, I get this call from Elizabeth Taylor saying she wants to come to the ranch. She flew out in this helicopter.
(Man driving Elizabeth in a cart):
Man: How are you?
(Elizabeth leaving the cart and whispering loudly):
Elizabeth: Hi. Is Michael out in front?
MJ: I knew by the tone of her voice that something was up. But I had no idea how big the surprise was.
(The three walking an elephant in)
MJ: She came out with this huge elephant.
(Elizabeth patting the elephant, laughing and Michael walking out with his head in his hands):
MJ: It was unbelievable.
Michael: (hushed) Hi… its great… Elizabeth…
(Elizabeth holds out her arms to hug him)
Michael: That… it’s beautiful…
MJ: At first, I was kinda scared cos this thing is huge!
(Michael patting the truck from a distance, chewing gum)
MJ: Eventually, I got into it, feeding him carrots and stuff like that.
(Michael feeding the elephant)
Elizabeth: (inaudible)… I think that’s pretty good.
(Michael ducks away after feeding him)
Elizabeth: No, I can’t…
(Both feeding the elephant)
Man: Great stuff. Got a whole mouth….
Elizabeth: You seem like a garbage can!
Michael: Lift your foot.
Elizabeth: Look at your foot!
MJ: I love elephants. They’re gentle giants, really.
(Elizabeth laughing at something Michael said, who’s ducking his head, smiling)
MJ: Elizabeth was dressed like a gypsy. And that’s why we named the elephant Gypsy. It was one of the best presents that I’ve ever gotten. I was so happy that day. Was a wonderful experience.
Michael Gives Her a Tapestry of Her, Private Home Movies, 1991
(Scene of the door to a room in the house)
MJ: But what Elizabeth didn’t know, that I was planning a surprise for her, also.
(The door opens and Elizabeth gasps):
Elizabeth: Oh my God!
(Scene of a large tapestry of Elizabeth on the wall)
Elizabeth: That’s amazing! I love it! Oh, thank you! (kissing him).
Michael: You’re welcome.
Elizabeth: What is it made of? A carpet?
MJ: The gift that I gave Elizabeth, to me was very unique. It looks like a painting, but it isn’t.
Elizabeth: Wow! That’s incredible Michael.
Michael: I love that color.
MJ: It’s a tapestry. This guy did it piece by piece.
Michael: And I wrote something on the bottom.
Elizabeth: Oh! (checking the bottom).
Man: Elizabeth… I love you… Michael.
Elizabeth: Oh, I love it!
Michael: Do you have a place for it? Maybe, this seems like…
Elizabeth: Now I may have to build a house.
Michael: Hahaha! (ducks head, laughing).
MJ: I think it was a shot of one of her movies.
Elizabeth: I think it’s fabulous!
Michael: I saw that commercial you have er… its beautiful.
Elizabeth: Do you like it?
Michael: Awh… it’s incredible! (hushed).
Elizabeth: Well maybe you’ll see one of my films one of these days.
Michael: Ah haha! (laughs). I knew you were gonna say…
Elizabeth: Hahaha! (laughing).
Michael: I’m seeing Virginia Woolf.
Elizabeth: Well, congratulations!
Michael: I’m seeing it today actually.
Elizabeth: We have to explain the joke. The last film that Michael saw me in, he thought I was really wonderful in, was a film called White Cliffs of Dover.
(Michael looking away, smiling shyly)
Elizabeth: And I was nine years old.
Michael: Heh! (laughs).
Elizabeth: Hmhmhm! (laughs and puts her hand on his shoulder). So he will see me as a grown up.
Michael: Yeah (nods and smiles shyly).
Elizabeth: He may never speak to me again!
Michael: Hahaha! (laughs).
Elizabeth: It’s amazing.
MJ: It wasn’t quite as big as Gypsy, heh… (laughs), but I think she liked my gift as much as I liked hers.