Step 2: How It Works
Oogoo is an inexpensive, easy to use silicone clay that can be cast into a flexible Frisbee that is thin and light. As the step 2 pic shows, Oogoo has incredible shape memory and even when compressed will bounce back to its original form.
The cast Frisbee is thin and floppy, but when it is set to spinning in a toss, it regains the original shape of a Frisbee. It is a little trickier to throw, but it has similar flight characteristics to a regular Frisbee.
For more details on the uses of Oogoo see here: http://www.instructables.com/id/How-To-Make-Your-Own-Sugru-Substitute/