What immediately comes to mind are handy, rubberized tool handles or frayed rope ends that have been bound together with a rubber coating - Plasti Dip is a synthetic rubber coating material for indoor and outdoor use. It can be sprayed, applied with a brush or applied by the dipping method whereby a strongly adhering and abrasion-resistant coating is produced. This allows you to "rubberize" any number of things by coating them and making them easier to handle or to use it for sealing purposes or for bundling purposes. It can often be found being discussed in model making forums because of its insulation properties, not only in the sense that objects can be made (salt-) waterproof but that they can be electrically insulated as well (up to 60 watt output). In addition, the coating is resistant to acids and alkaloids. It will remain elastic even in the face of extreme temperatures and will not crack or tear. Once cured, it has no smell and is even food-safe.
LATEX PIMPLES, it must be said, is a good alternative product - it is kind of the handicrafts version of Plasti Dip and it is also available in a convenient size. There is not, however, as much technical data available as there is for Plasti Dip.