Pour ½ cup of glue into a bowl (that you don't mind using for this experiment ;).
Add 2 to 3 drops into the glue and stir.
Pour in ½ c. liquid starch and mix well.
You will need to mix for awhile - approximately 5-10 minutes. At first it won't look like it will turn into floam, just keep mixing.
When it starts sticking well and coming off the wall of the bowl, run it under water for a couple of seconds.
Pour styrofoam balls into a separate bowl and add the floam.
Knead until well mixed.