Sculpey Eraser Clay (review)
Found this at Walmart for $6 and bought it for my kids. Maybe they've had it for a while and I hadn't seen it --sure was dusty. LOL!
The pack has 6 neon-bright colors: blue, green, purple, orange, yellow and hot pink. We made erasers, some pencil toppers, some to stand alone, and tried them out. They don't really erase all that well and the eraser "dust" is very coarse and heavy. So as erasers it doesn't win my vote, but it sure is fun to work with. It has a consistency somewhere between Model Magic and regular Sculpey. So you can imagine it doesn't have the most durability once cured. I would say it's good for carving rubber stamps, like you can do with other eraser material, but it's so soft you can "carve" it with your fingernail. Might be good for children to practice carving with plastic tools...?
Still a good product; might be nice if it came in other colors though.