Information:
This suit was done with the last pieces of material they (the designers) had, because Elvis needed a suit in a rush. When the suit was finished, they nicknamed the suit the "Kitchen Sink Suit", as they had used everything up for the suit except the kitchen sink.
Elvis first started wearing this suit at the end of his 1973 August/September Las Vegas engagement. After that he wore it again during the first months of 1974. Most notably, he wore it during his famous Memphis concert (March 20th, 1974) that RCA recorded. That's also where the fans got the nickname for this suit; the "Memphis Suit".