Phony Phanty is a red anthropomorphic elephant mascot used as part of a campaign set up to combat fabricated evidence in the courtroom during the so-called "dark age of the law". Another mascot, a blue anthropomorphic rhinoceros called Bum Rap Rhiny, was created to raise awareness of false accusations within the legal system. The two mascots are brothers.
The Japanese name for the mascot, "Netsuzō-kun" (ねつゾウくん), comes from "Netsuzō" (捏造), which means "fabrication" or "forgery". While the "zō" (象) in the name means "elephant", it may also be a subtle reference to Bobby Fulbright (and thus foreshadowing his true identity), as his given name in the Japanese version is "Gōzō" (轟三).
"Phony" is a synonym for "fake", while "Phanty" is a play on the word "elephant". However, "Phanty" could also be a reference to the "phantom" (who is also a "phony", in that he pretends to be other people), who used a Phony Phanty doll to conceal a bomb.
Bum Rap Rhiny and Phony Phanty appear to be based on a defendant and a judge, respectively.