Magnetic Putty (also known as Silly Putty) is a silicone polymer children's toy. Magnetic putty is fun because it has some unique properties: it is viscoelastic, meaning it can be stretched and shaped and mashed back together again; and as its apparent viscosity increases directly with respect to the amount of force applied
Magnetic putty is a non-Newtonian viscoelastic polymer, better characterized as a dilatant fluid. Also, it bounces.