Why do children take delight in things that grownups find gross? While most adults just sit and ponder this question, a few entrepreneurs cannily exploit it. Just in time for the back-to-school season, for example, is Spit-Wads, a synthetic "tossing dough." The sticky substance, thrown by hand rather than propelled through a straw, was invented by oil-refinery worker Ted Skup. "We got the idea at lunchtime. We were talking about the Pet Rock and things we could sell about $20 million worth of, and it just popped into my head." Skup and a partner started IQCO Inc., which sells packs of...
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