Elastic energy
Elastic energy is a form of potential energy stored in objects that can be deformed and then return to their original shape. This deformation can be caused by stretching, compressing, or bending the object.
When the object is deformed, the energy is stored in the bonds between the atoms or molecules of the object. This energy can be released when the object returns to its original shape, often in the form of kinetic energy.
It is equal to the work done to stretch the spring, which depends upon the spring constant k as well as the distance stretched.
According to Hooke’s law, the force has the form:
F=-k*x,
Hooke’s law states that the force (F) needed to extend or compress a spring by some distance (x) scales linearly with respect to that distance—that is, Fs = kx, where k is a constant factor characteristic of the spring (i.e., its stiffness), and x is small compared to the total possible deformation of the spring.

Some common examples of objects that store elastic energy include springs, rubber bands, bows and arrows, bungee cords, trampolines and etc.
Take a rubber band. Try to stretch it. It feels tight, right? That tightness is like stored-up energy, waiting to be released. That’s elastic energy!
Try to stretch or squeeze: When you stretch a rubber band, squeeze a spring, or even bend a branch, you’re storing energy inside it.
When you let go, the rubber band, spring, or branch wants to go back to its original shape. That stored energy makes it “bounce” or “spring” back.
Let’s discover more examples:

When you drop a bouncy ball, it squishes, storing energy. Then, it bounces back up, using that stored energy.

A trampoline: You jump on a trampoline, pushing down and storing energy in the springs. Then, the springs push you back up, making you bounce high!
So, elastic energy is like hidden power waiting to be unleashed! It’s the energy stored in things that can stretch, squeeze, or bend, and then bounce back.