1. Mix one cup cold water with 8 ounces of Elmer's Glue in one mixing bowl.
2. In a second bowl, mix 1 tablespoon of Borax with one-half cup of very hot water (not boiling). Stir well until the Borax is dissolved.
3. Add about 10 drops of each food coloring to the Borax-water mixture.
4. Slowly add the hot Borax-water mixture to the glue-water mixture. Stir with a spoon for a few seconds.
5. Using your hands, reach into the bowl and mix everything together. In less than a minute you'll have a gooey, nonsticky, stretchy material.
6. Store the goop in a resealable plastic bag or covered plastic container. You can keep the goop for several weeks as long as you refrigerate it when you're not playing with it.