Bubblegum is a type of elastic chewing gum

Chewing gum

Chewing gum is a type of gum traditionally made of chicle, a natural latex product, or synthetic rubber known as polyisobutylene. For economical and quality reasons, many modern chewing gums use rubber instead of chicle...

, designed to be blown out of the mouth as a bubble.
In 1928, Walter Diemer

Walter Diemer

Walter E. Diemer was an accountant and inventor of bubble gum.Born and raised in Philadelphia, Pennsylvania, Diemer was working as an accountant at Fleer in 1926 when the company president sought to cut costs by making their own gum base...

, an accountant for the Fleer Chewing Gum Company in Philadelphia, was experimenting with new gum recipes. One recipe was found to be less sticky than regular chewing gum, and stretched more easily. This gum became highly successful and was eventually named by the president of Fleer as Dubble Bubble

Dubble Bubble

Dubble Bubble is a brand of bubble gum invented in 1928 by Philadelphia-based Fleer. Walter E. Diemer — an accountant at Fleer — enjoyed experimenting with recipes during his free time. In an interview a few years before his death, he said, "It was an accident"...

. Original bubble gum was pink because that was the only dye Diemer had on hand at the time.
Bubblegum is available in many different colors and flavors.