Pink Gel

Pink Gel is a crafting material set to appear in 1.3, based on a suggestion by forum user Ilmarinen.

Ilmarinen suggested that Pink Gel be dropped by Pinky, and that its use would be in crafting Floating Glowsticks, Bouncing Bombs, Bouncing Grenades, Peace Candles (opposite of Water Candle), Pink Slime Block (causes player to bounce), and Pink Torches.

In the 1.3 trailer, what appears to be a "pink dynamite" can be seen, likely crafted with this item, as Sticky Dynamite was also announced.