Exact ingredients are a trade secret, but wheat flour, water, petroleum distillate, salt, a drying agent, hardening agent, color, perfume.

It's non-toxic and it's made for kids, so I'm pretty sure that:
A) you can eat it.
B) we all have.
:)

It's a non-toxic compound that is primarily a mixture of wheat flour, water, deodorized kerosene or another petroleum distillate.

Here are the ingredients from the actual Patent:
http://tinyurl.com/yrd43p