I first read about this stuff in the mechanics subforum and then watched some youtube on it. I bought mine on ebay. It comes in different colors, and I read you can mix them for a custom color. I immediately thought it could help save a couple of my saddles. This Turbo, I picked up for $5 the other day.
After some Sugru, it looks pretty good from 5 ft.
I used surgical gloves during all this!
That Turbo was ripped all the way around. I was a little too liberal with the stuff on the non drive-side. It's good for a flip bike now. I have another Avocet Racing that just had one little rip I had repaired with a piece of tape. It looks great now with a little bit of Sugru in its place.
You can do all kinds of home projects with this stuff, but I'm not really into all that. The only other thing I've done with it is to put it around my grocery pannier hooks where the original rubber and my occasional tape applications were not holding up.
Once you open a package and expose the stuff to air, you have to use it all within an hour or so, I guess. So get 2 or 3 projects ready. I would think torn brake lever hoods would be another good use for Sugru.
What are some others? I have one package left.