It occurs to me I should have listed what the draft number has been for each sequence. I have therefore edited the previous posts to include this information.
Sequence 10: Ringmaster's Idea for Pyramid Act (Draft No. 2)
1 MLS - truck to MCU - Shadows of Ringmaster and Joe appear against side of tent. Ringmaster says: "WHAT AN IDEA! YOU KNOW, SOMETIMES I WONDER WHAT MAKES ME..."
3 MCU - Tim and Dumbo watching Ringmaster. o.s. Ringmaster: "SO SMART!" Tim talks over his shoulder to Dumbo: "HUH! HE NEVER HAD AN IDEA IN HIS LIFE -" Ringmaster continues: "JUST VISUALISE..."
4 MCU - Shadows of Ringmaster and Joe. Ringmaster tosses coat - Joe catches it. Ringmaster, excited, continues: "IN THE RING STAND SEVENTEEN ELEPHANTS!"
4.1 MCU - Shadow of Joe - "hangs up" coat, missing pet [?] and allowing coat to fall on floor. Ringmaster o.s. continues "ONE ELEPHANT CLIMBS ON TOP OF ANOTHER ELEPHANT UNTIL..."
5 CU - Ringmaster wriggles out of pants, kicks them up in the air and catches them, as he says: "...FINALLY ALL SEVENTEEN ELEPHANTS HAVE CONSTRUCTED AN ENORMOUS PYRAMID..."
6 CU - Joe's shadow. Ringmaster, o.s., continues "...OF PACHYDERMS!" Joe, puzzled, scratches his head - asks: "WHAT'S A PACHYDERM, BOSS?"
7 MCU - Shadow of Ringmaster - Tosses pants to Joe, o.s., as he says "THAT'S AN ELEPHANT, STUPID. HANG UP MY PANTS!"
8 CU - Joe's shadow - He catches pants, hangs them up as he says "GEE, BOSS, I DON'T KNOW HOW YOU THINK 'EM UP!" Ringmaster, o.s.: "THAT'S NOTHING!"
11 CU - Shadow of Ringmaster wriggling into nightshirt - continues: "THERE STANDS THE PYRAMID OF ELEPHANTS..." Arms shoot up thru sleeves - "I STEP OUT!" Head pops thru neck of shirt - "I BLOW THE WHISTLE!"
12 CU - Tim on tent-peg - Ringmaster continues... "THE TRUMPETERS ARE TRUMPETING - THE DRUMS ARE DRUMMING -" Tim stands up to listen. Ringmaster, o.s., very excited continues "...AND NOW..."
14 MCU - Shadows of Joe and Ringmaster. Ringmaster continues: "...COMES THE CLIMAX!" Joe: "YEAH... WHAT IS THE CLIMAX?" Ringmaster: "I DON'T KNOW"
16 CU - Tim. Ringmaster, o.s. "...DOT'S CHUST VOT I DON'T KNOW." Tim relaxes into disappointed expression - says: "I KNEW HE NEVER HAD NOTHIN' ... BUT STILL I WAS HOPIN'."
17 MCU - Shadow of Ringmaster - "WELL, MAYBE IT COMES TO ME IN A VISION WHILE I DREAM. GOODNIGHT, JOE." Climbs into bed. Joe, o.s. "GOODNIGHT, BOSS."
The main thing from this draft section that isn't in the final film is the Ringmaster explaining to Joe what a pachyderm is. I'm glad they took this out - it just feels like the storymen are calling attention to the fact that they know a word which they think the "average Joe" doesn't. Anyway, we already know that the Ringmaster is talking about a pyramid of elephants, so the audience should know what he means, even if they've never heard the word "pachyderm" before. I do think that the Ringmaster ordering Joe to hang up his clothes is funny though, just after insulting him.
Notice that one of the Ringmaster's deleted lines is written in a thicker German accent than the rest of the dialogue. I'm not sure why that is, although even in the final film he starts to sound more Germanic as he falls asleep.
Also noteworthy is that Timothy's line about "hopin'" the Ringmaster had an idea was cut. I'm not sure why he would hope this: it hasn't occured to him yet that this could be Dumbo's chance to shine. I guess Timothy himself sort of makes a living from the circus and wants it to be successful.
Notice that although the film does not retain the Ringmaster's full description of the pyramid act, he still says "seventeen" elephants will perform rather than the seven who do (or eight in the opening shot, for some reason).
Sequence 11: Pyramid Act (Draft No. 3)
Not really a deleted scene, but an alternative version of a line, at the start where the Ringmaster is announcing his act.
3.2 CU - Rearview of Ringmaster: ...PYRAMID OF PROUD, PONDEROUS, PULSATING.....
3.3 CU - Ringmaster:...PULCHRITUDINOUS PACHY. PACHY.....I GIVE YOU THE ELEPHANTS!
It appears that the Ringmaster struggles over the word "pachyderm" and gives up. In the film he has no such problem with the word. Once again, the film differs from the draft in that it does not make such a big deal about the word "pachyderm" - the film-makers aren't trying to call attention to their vocabulary.