Source : Webster's Revised Unabridged Dictionary (1913)

Elkwood \Elk"wood`\, n.
   The soft, spongy wood of a species of Magnolia ({M.
   Umbrella}).

Source : WordNet®

elkwood
     n : small deciduous open-crowned tree of eastern North America
         having creamy white flowers and large leaves in
         formations like umbrellas at the ends of branches [syn: {umbrella
         tree}, {umbrella magnolia}, {elk-wood}, {Magnolia
         tripetala}]