Why does Eliot Waugh always call Margo Hanson “Bambi” in Syfy’s fantasy drama series, The Magicians? Eliot (Hale Appleman) and Margo (Summer Bishil) have been deemed an iconic pair since the inception of The Magicians, as the two share a bond that defies constrictive labeling of any sort. Over the duration of five seasons, and despite dimension-bending threats and conflicts, Eliot and Margo emerge stronger together, driven by an unspoken connection that, to them, borders on the sacred.
In certain respects, Eliot and Margo share similar tendencies in terms of their dynamic with other characters - both relish the idea of hazing fledgling magicians as part of their fraternity rules during The Trials and are somewhat hesitant to let other people in, in terms of emotional intimacy. While much is not revealed about Eliot’s formative years, Lev Grossman’s The Magicians novel trilogy, upon which the show is based, chronicles in great depth how Eliot was tormented by bullies due to his sexuality, one of whom he accidentally kills using telekinesis. Carrying his adamantine wounds deep within him, Eliot joined Brakebills, where Margo was the only person he could be himself with, and open up to.
On the other hand, Margo is never afraid of speaking her mind, and her aloof behavior comes across as rude or shallow to those who encounter her. However, once she lets someone in, she cares for them in her own, unique way. While both magicians forge deep relationships with other major characters, such as Margo and Eliot’s romantic inclinations towards Josh and Quentin, respectively, they are fiercely protective of each other and some of their actions are often fueled by jealously. But a major verbal cue that underlines the unconditional nature of their bond is the fact that Eliot is the only person to call her "Bambi," a nickname that originated behind the scenes.
While one reason for Eliot calling Margo "Bambi" could simply be an affectionate way of likening Margo’s doe-eyed appearance to Disney’s Bambi, the reason why Eliot calls her so has been explained by Appleman himself in an interview with SciFi Vision. The nickname “Bambi” started as an inside joke with the crew, wherein the show’s costume designer assigned psycho-spiritual animals representing each cast member, and she had likened Summer Bishil to an owl. However, Bishil had exclaimed: “I ain't no freaking owl! I'm freaking Bambi!”, which solidified the symbolism, and seeped into the Eliot-Margo dynamic.
As The Magicians will not be renewed by Syfy for a new season, season 5 ended in an open-ended manner, with Eliot left behind at Brakebills and Margo leading the inhabitants of Fillory into a new, fertile dimension. While the two are separated at this juncture, it is not improbable to envision that they would make their way back to each other in the near future - after all, Eliot says at one point that he has only one Bambi.