elastic

Short definition from Wiktionary

Adjective

1. 1
   Capable of stretching; particularly, capable of stretching so as to return to an original shape or size when force is released.
2. 2
   Made of elastic.
3. 3
   Of clothing, elasticated.
4. 4
   Sensitive to changes in price.
5. 5
   springy; bouncy; vivacious
6. 6
   Pervasive, all-encompassing.
7. 7
   Able to return quickly to a former state or condition, after being depressed or overtaxed; having power to recover easily from shocks and trials.

Noun

1. 1
   An elastic material used in clothing, particularly in waistbands and cuffs.
2. 2
   An elastic band.
3. 3
   Specifically, a hair tie.