It's a low melting point thermoplastic, that can be reused over and over.
You put it in boiling water, then mold it into any shape you want... let it cool and walla, plastic in any shape you want.
This could be used instead of a 3d printer for a camera mount for example - all be it - far less precise and a little more messy
But cheaper lolCheck the video below...
http://www.youtube.com/watch?v=IhVuc6RNyaw