Silly Bandz, the new kid craze By Allison Albrecht, 11, Priya Mirmira, 13In 2002, a Japanese company designed a stronger elastic band, next was the ingenuity of an Ohio businessman. Robert Croak found that adding silicone allowed an elastic band to keep its shape. His Toledo-based company trademarked the name, Silly Bandz, and the sales took off, particularly among elementary-age kids.