By this definition, steel is more elastic than rubber because steel comes back to its original shape faster than rubber when the deforming forces are removed. Elasticity In Physics And In Common Life: In common life we label a substance as more elastic if it can be stretched more than others.
Elasticity According To Physics: Elasticity, as everyone understands, is the property of being stretched and restored. In physics they have discovered that almost all solids have this property. If they are stretched (with a certain limit, of course) they lengthen. On removing the force, they go back to their original shape.
In fact, stretching is not the only thing that can be done. One can stretch, shear, compress, and do many things with force to alter the shape of a solid body. Each time the body returns to the original shape and position after this force is removed. This property of materials to yield to deforming forces, only to come back to the normal shape after the forces are removed is called "elasticity".