Pond or Terrestrial. Commonly known as Elephant’s Ear or Taro, Colocasia esculenta is a tropical plant that functions as an annual in cold winter climates, and as a perennial in warm winter climates. Adaptable as a woodland edge plant, it is equally at home in a water garden setting and as a border to your walkway or drive. Huge heart shaped leaves are a delight to old and young alike.