Update: I added the translucent and more slimy version. Check it out.
First, I want to thank the kind help of JustAnotherDave who has done an excellent job editing this instructable. Thank you very much :)
I'll show how to make your own high-quality slime (this slime is not Oobleck; it is not made with starch) in less than 15 minutes (the timing starts once you have gathered the materials). Of course, you will learn about two topics related to slime structure and behavior: polymers and non-Newtonian fluids. To learn what "rheopectic" means, keep reading.
First we are going to make slime, then I'll explain the science behind slime.
Step 1: Safety first
However, it involves the use of borax which can cause skin and eye irritation, so do not touch it and of course do not eat it. It is toxic if eaten! Wash your hands very well after you finish your project and do not use the spoons and flasks you used in this experiment for food any more.
The resulting slime is also safe for children older than 5 but is not for eating (just imagine what a very viscous polymer would do to any stomach!). If it is accidentally eaten, look for medical assistance immediately! I advise you to watch your kids while they are playing with it to avoid accidents. If you or your children are allergic to anything, by all means use gloves to manipulate the slime. I'm not responsible for any damage or accident caused by making or playing with slime.