Harvard scientists successfully insert the DNA of mammoths into the chromosome of an Asian elephant. Asian elephants were the closest relative of the wooly mammoth, which died out around 3,000-4,000 years ago (to put that into perspective, mammoths were walking the Earth when Egyptians were building pyramids).
http://www.sciencedaily.com/videos/5...52717bb039.htm
What do you think? Personally I see no problem in creating a wooly elephant (since these animals would only look and have adaptations of a mammoth, but would technically still be Asian elephants). The idea that we couldn't find an area for them to live in the wild is preposterous, because they survived and flourished in inter-glacial periods (periods where the icecaps had almost completely melted or reduced heavily like now). We also know full-well their diet and both the Asian and African elephant give insight into the behavior of them.
The Siberian habitat a few thousands years ago, full of European bison, wild cattle, lions, spotted hyenas, wolves, foxes and mammoths.