The jackalope is a mythical animal of North American folklore (a so-called fearsome critter) described as a jackrabbit with antelope horns. The word jackalope is a portmanteau of jackrabbit and antelope, although the jackrabbit is not a rabbit, and the American antelope is not an antelope.Also, many jackalope taxidermy mounts, including the original, are actually made with deer antlers.he word jackalope is a portmanteau of jackrabbit and antelope, although the jackrabbit is not a rabbit, and the American antelope is not an antelope. Also, many jackalope taxidermy mounts, including the original, are actually made with deer antlers.