Google Goo was a real product sold by Google through its online store, described as a stress toy.
Google Goo is not unlike plasticine except more brittle in its consistency and feel.
Google Goo store description
It's time to get hands-on with a fistful of Google Goo. This stretchy ball of red fun works overtime to decrease stress and stretch your creativity.
It doesn't stain and it's non-toxic -- and endlessly satisfying to shape and squeeze. Comes in a handy storage tin. Age 3 and over.
Google Goo For Sale
Google Goo Memorial
Google Goo Time Lapse
An 11 hour time lapse of Google Goo falling down. YouTube Video
Google Goo Images