Wow!!! It’s new!!! It’s Sugru!!!
Sugru is a new modeling clay that is workable for about 30 minutes then air-cures to a tough, but flexible silicone. I wish I had this stuff when I was in design school! Not only is this stuff great for industrial designers, it’s great for anyone who wants to hack or alter products and items to better interact with them ergonomically, or just to make them function better.
For more info and to order Sugru, check out their website @ http://sugru.com/