Not only did Irving Fishlove buy the idea to mass-produce and sell, he also took matters into his own hands. His son, Howard Fishlove, told the Timms about coming home as a schoolkid to find his kitchen counter covered in various types of fake barf. Turns out, Dad was so excited about this upchuck gag, he was experimenting with his own formulas of brown or yellow latex mixed with chunky bits of colored foam. “He told us it was the most disgusting thing he had ever seen,” says Mardi Timm.
The formula they settled on has been a closely-guarded secret ever since. Read all about the history of "Whoops," the original latex barf at Collector's Weekly. Link -Thanks, Ben!