elastic

(noun): An elastic material used in clothing, particularly in waistbands and cuffs.
(noun): An elastic band.
(adjective): Capable of stretching; particularly, capable of stretching so as to return to an original shape or size when force is released.
(adjective): Made of elastic.
(adjective): Of clothing, elasticated.
(adjective): Sensitive to changes in price.
(adjective): Springy; bouncy; vivacious
(adjective): Able to return quickly to a former state or condition, after being depressed or overtaxed; having power to recover easily from shocks and trials.