elasticized cord used to hold objects in place, as luggage on carts or racks, or attached to persons leaping for sport () from great heights so as to allow them to come close to the ground without hitting it
See bungee cord in American Heritage Dictionary 4
(bŭnˈjēˌ)
noun
An elasticized rubber cord, often fitted with hooks at the ends, used to fasten, bear weight, or absorb shock.