It's elephants going down a slide into the water, and then walking around for a bit. I wonder if they enjoyed it, or was this just another of the weird things than humans made them do?
There appear to be three movies with approximately the same title released in the same year. This one is credited to A.C. Abadie, and is number #2; a similar one from Edison -- which I have not seen -- has Edwin Porter listed as the director. The third one is from Warwick Trading in Britain. Given that these companies distributed each others' movies in their own areas, it's possible that all three are the same film. Unfortunately, the only way to be sure is to look at them, and this is the only one I've seen.
There's a pan shot following one of the elephants as he climbs out of the water. Five years after the modern pan shot had come into existence, this is a pleasant commonplace.