We love making slime! It is so easy and provides hours of fun. The recipe we use is here:
In one bowl mix 1/2 cup (4 oz) glue and 1/2 cup water. Add food coloring if you want colored slime.
In the other bowl, mix 1 teaspoon borax with 1 cup water until the borax is dissolved.
Add the glue mixture to the borax solution, stirring slowly.
The slime will begin to form immediately; stir as much as you can, then dig in and knead it with your hands until it gets less sticky. (No one makes slime without getting a little messy!) Don't worry about any leftover water in the bowl; just pour it out.