Definition of elastic noun from the Oxford Advanced Learner's Dictionary

 

elastic

 noun
noun
BrE BrE//ɪˈlæstɪk//
 
; NAmE NAmE//ɪˈlæstɪk//
 
 
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[uncountable] material made with rubber, that can stretch and then return to its original size This skirt needs some new elastic in the waist. Word Origin mid 17th cent. (originally describing a gas in the sense ‘expanding spontaneously to fill the available space’): from modern Latin elasticus, from Greek elastikos ‘propulsive’, from elaunein ‘to drive’.Extra examples The elastic in these socks has gone. The skirt is held up by a length of elastic around the waist. an old skirt with loose elastic
See the Oxford Advanced American Dictionary entry: elastic