It has origins in the 15th century, but has officially existed since 1693, and since the establishment of constitutional monarchy in 1849, is now almost exclusively used to honour royalty and heads of state.

The badge of the confraternity showed the Virgin Mary holding her Son within a crescent moon and surrounded with the rays of the sun, and was hung from a collar of links in the form of elephants much like the present collar of the Order.

After the Reformation in 1536 the confraternity died out, but a badge in the form of an elephant with his profile on its right side was still awarded by Frederick II.

The most recent member of the order who was neither a current nor former head of state nor royal was Mærsk Mc-Kinney Møller, a leading industrialist and philanthropist.

Previous knights have included:[11] • Emperor Dom Pedro II of Brazil.