1/8 c Borax
2 c water
1/4 c white glue (Elmer's or similar)
food coloring
1/4 c water
Recipe
Mix together Borax and water and heat them over medium heat in a small pot on the stove and stir until they are dissolved, or mix them together in a microwaveable container and on 70% power heat them for 2 to 3 minutes until dissolved; stirring every 30 seconds. After the mixture is dissolved remove it from its heat source and set it aside. Mix together in an old cup, glue and 1/4 cup of water, stir until well combined. Into the baggy, pour the White Glue/Water mixture and add 2 Tbsp of the Borax/water solution. Add a drop (or more) of food coloring. Close the bag well, removing as much air as possible. Knead until the SLIME has formed. Store in old margarine tubs sealed with lids. Do not let this get on rugs or fabric because food coloring STAINS!
Helpful Hints: It is much easier to fill the baggies with the liquids if you line a standing tumbler with the baggie first. Leave an inch or so of the baggie folded over the rim of the tumbler to prevent the liquids from spilling inside the cup when they are being poured in. Also, have an adult supervise and/or help with the heating process. SLIME is never fun when someone gets hurt when making it. Finally, try to use non-breakable containers so there is no chance of breaking any glass.
Have lots of fun!