Hello,
There is differnence in the term elasticity used in physics and common mans life.
According to coomon man rubber is more elastic than steel(as we are telling from our childhood days).But now since you are studying higher level of physics you should not think like a common man but rather like an physicst.
From physics point of view ,Elasticity is a materials ability to resist brakage due to deformation when load acts on it.
In other words more the material can witstand force without breaking,better its elasticity.
It is obvious from this defination that steel can withstand more force than rubber before breaking