Well, I suppose it means you're fairly heartless to long-dead walrusses (walri?).
If you're asking about advice for replacing your saddle and pegs, I'd suggest going with Tusq if your guitar didn't already come with Tusq. I replaced my saddle on my Yamaha with Tusq and my pegs with wood and have received a much cleaner and brighter tone as a reward. The reason I suggest Tusq over bone is that the Tusq saddles come already partially preshaped. There's a lot less sanding to do with Tusq. I'm considering the nut now, but that'll have to be done by a tech. I'd like a slightly lower action, so will probably sand the saddle down just a little more with the next string change.
As far as what to do with the fossilized walrus ivory you have laying about, have you ever considered scrimshaw?
Granted B chord amnesty by King of the Mutants (Long live the king).
If it comes from the heart and you add a few beers... it'll be awesome! - Mekidsmom
When in doubt ... hats. - B.G. Dude