Pink Gel

Pink Gel is an item set to appear in 1.3, suggested by forum user Ilmarinen. It will likely be used to make Floating Glowsticks, Bouncing Bombs and Bouncing Grenades, and will be dropped by Pinky. Although not confirmed, Ilmarinen also suggested Peace Candle (opposite of Water Candle), Pink Slime Block (causes player to bounce) and pink torches.