6 cups of play sand (I got a 50 lb bag from Lowe's; it was $4.99 plus tax.)
3 cups of cornstarch (Most dollar stores carry it for $1 per box...you'll need around 24 boxes for the whole 50 lbs!)
1 1/2 cups of cold water
Mix the water and cornstarch together thoroughly, this will take a few minutes to get it nice and smooth.
Gradually mix in the sand, one cup at a time. You'll need to really work it in with your fingers.
Play with it!
When you're all done, pop it in an airtight container.
When you next play with it, you'll need to revive it with 2-3 tablespoons of water. Just sprinkle it over and work it in.
*Play sand comes in different colors, so you can "mix it up" a bit, too