I am trying to find a small cookie cutter, or similar type of thing to create small elephant shapes or silhouette.
So far the smallest I can find something that is roughly a 1.25" x 2"

Any suggestions?

Hi. I recently did a cake with the continent of Africa in fondant on top of the cake. I painted the African shape in colors of a sunset and I wanted to put black silhouettes of African animals. I went to Google images, African animal silhouettes and saw a small elephant one that I liked (also giraffe and lion) so I printed it out, cut it out and used it as a template on black fondant. It wasn't super fun cutting those tiny shapes, but it turned out great! Sorry I don't have a picture in my photos. I haven't uploaded any photos yet. I'd be happy to email a picture if you have any interest in seeing it.

yeah i can totally do that, but I was planning to have lots of the shapes in the design.... hence a LOT of cutting to do. I was hoping to save some time! ... and money lol

I use scrapbook punches for really small, detailed shapes. Roll the fondant thin as possible, then let it dry for a few minutes on each side (the drier, the better, but you can't reuse the scraps if it gets too dry), and just punch the shapes out like you would paper.

The tappits safari set has a tiny elephant: http://www.globalsugarart.com/product.php?id=17253&name=FMM - Safari Animal Cutter Set

I have one that came in a Wilton set my sister picked up at a garage sale for about ten cents. I am totally serious when I say if you want it, and want to disclose your address, I will mail it to you!

Look for play-Doh cutters maybe even at the dollar stores. I have some small ones I borrowed from the kids before they saw them

Texas_Rose is right on, unless you are wanting it for cookies or thicker fondant. Paper punchers come in a million shapes and you can roll super thin fondant like she said or edible image paper works great too!