That is ingenious! I wish I had that available when I threw away some rubber boots because they were old and had cracks on them. Oh, well...
Here's the description of the product:
Plasti Dip is the original multi-purpose, air dry, specialty rubber coating. It can be easily applied by spraying. Plasti Dip protective coating is ideal for a broad array of do-it-yourself projects on your car, in your home, garage, garden, and elsewhere. It protects coated items against moisture, acids, abrasion, corrosion, and skidding/slipping, and provides a comfortable, controlled grip. Plasti Dip remains flexible and stretchy over time, and will not crack or become brittle in extreme weather conditions. It has been tested and proven in temperatures from -30°F to 200°F.