The slingshot is an example of potential energy.
Potential energy is defined as mechanical energy, stored energy, or energy caused by its position.
The energy that a ball has when perched at a top of a steep hill while it is about to roll down is an example of potential energy.
energy that is the result of relative position or structure instead of motion, as in a compressed spring
The energy of a particle or system of particles derived from position, or condition, rather than motion. A raised weight, coiled spring, or charged battery has potential energy.