If it's invisible then why does it matter if it is pink? Did the elephant tell you it was pink? If so then why are you taking the word of an invisible talking elephant?
Personally I'm agnostic about your pink invisible (and possibly talking) elephant, it may exist and it may not but I have no proof regarding its veracity so I do not dismiss it (except that you've just admitted to making things up) and perhaps more importantly I don't need to care about it as it impacts on my life not one single iota.
Of course it is an absurd suggestion and I was merely using it as an example to highlight how absurd it is that people think they know how 'god' wants them to run their lives. In principle it cannot be dismissed but at the same time it can be used to justify anything, which is wrong imo. The point of my example was to show that any non dismissable argument no matter how silly can be constructed. Does this mean we should give credit to such arguments whether they affect your life or not?
The other problem with such arguments is since they are not testable they are open to change with no justification. Other people are entitled to their beliefs but I cannot understand why so many people would want to run their lives according to a fallacy. I certainly do not.
I think most religious people (generalising here i know but i think it holds for the vast majority) are religious because their family is. It's ingrained into their minds from a young age and becomes beyond reproach.