Identity of this material. This is normally used to protect the edges of cutting tools such as large drill bits, routers, and end mills. It is designed to be easily be stripped off. Evanscoatings.com sells a few varieties of this material for $3 USD per pound. They have translucent versions in assorted colors including blue. I do not know which stock number matches the melting temperature and durometer of Blue Stuff. Some easy experimentation could determine that if they sell a sample pack.