Preschoolers have encountered most of the ingredients used to make slime before, and can describe some of the properties of glue, water and soap.
Many preschoolers can understand that mixing two materials together can create a new kind of material.
Preschoolers are able to think of materials that remind them of slime (like SillyPutty© or PlayDough©).

Preschoolers enjoy pretending they are scientists by wearing proper safety equipment, using real test tubes, asking questions and experimenting to try and find answers to their questions.
Many preschoolers also enjoy creating sculptures with their slime.
Preschoolers may notice that their sculptures do not last long- since slime is not very stiff, slime sculptures will 'melt', leaving piles of slime on the table.
Older preschoolers can observe that while two liquids go into their mixing cups, only one semi-solid comes out.
Preschoolers can use more complex words to describe some of the properties of slime than younger children can. Preschoolers can use adjectives like ‘sticky’, ‘wet’, and ‘bubbly’ to describe each ingredient.
Preschoolers can listen to the sound their cups make when they shake the slime ingredients together and the sounds the tools make when pushed into the slime and pulled out again.

Most preschoolers will be able to pour the separate ingredients into their mixing cups all by themselves, although they will still need help measuring the ingredients.
If you are making a large batch of slime, preschoolers will probably enjoy using a spoon or stick to help you mix the ingredients together to make slime.
Preschoolers may enjoy shaping the slime with cookie cutters and other tools.
Preschoolers usually have greater success then younger children in using their hands and arms to stretch and roll the slime without breaking it.