For caving application I've used Sugru to line the edge of my old Dragon fibreglass helmet. The rubber band thing had disappeared long again, and the rim was cracking from pushing my head down tight rifts (and... ahem, being slightly run over by a friend backing up his car). A little bit of Sugru in the gaps, smoothed over with licked fingers & no more fibreglass splinters.
As a repair (nearly 3 years ago?) it's outlasted the helmet, which needs to be retired as the rivets have rusted through...
For those interested in exciting new DIY materials check out Polymorph (Polycaprolactone) - a thermoplastic which you can soften to mould by hand with hot water. It hardens to an opaque white plastic with very similar strength to Nylon, and you just reheat it in water again to reuse. Perfect for making semi-temporary mounts for cameras, lights, fitted handles for tools etc.