Bunji cords
Murray Sherman
Does anyone know the origin of bunji?
AtoZ
One source,
http://www.geocities.com/etymonline/b3etym.htm, gives the following:

"bungee - 1930, 'elastic rope'; used earlier in British slang for 'rubber erase'; probably from notions of 'bouncy' and 'spongy'; bungee jumping is from 1979."

To further confuse matters, let me add that
'bungee' is, of course, known as 'bungy' in New Zealand; but this is totally unrelated to the 17th century word 'bungy' meaning bulbous which is thought to be a combination of 'bulgy' and 'bunchy'

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