In August 2016, CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora) passed a law prohibiting trade in elephant hair. Retailers still in possession of elephant hair and in possession of a wildlife traders licence (allowing them to sell elephant hair jewelry) are allowed to sell their products until such time as their stocks run out. You are allowed to have an elephant hair bracelet in any country provided that it is purchased from a licensed trader.
A cites permit is issued by the trader and travels with the bracelets. On arrival at customs (in your country) the cites is REMOVED from the package and your bracelet legally enters your country.

GENUINE AFRICAN ELEPHANT HAIR TRADING LICENCE