When a material is stretched beyond some limit and returns back to its original shape, this property of the material is known as elasticity.
The force that allows some materials to return to their original shape after being stretched or compressed is known as elastic force. Thus, an elastic force acts on a stretched rubber band.
Springs are the best examples of elastic force as they return back to their original shape after undergoing deformations such as compression and expansion.
Springs are widely used in toys such as spring heads, toy telephones, etc.
Two types of elastic forces are tension and compression forces.
Thus, the elastic force is the force acting on a stretched rubber band.