I swear to you, years ago, I decided I was going to invent just that and cash in on the novice rider/child market. Obviously I never got around to it. And today, I think it's generally a bad idea. You want to be able to control exactly how much pressure you have on your horse's mouth with instantaneous pull and release, and certainly don't want to be at the mercy of slowly stretching elastic.
Yes but because of the elastic it is ment to 'give' to the horses so you arent constantly getting pulled. Friend has a pair so going to borrow them and see what there like(worth a try) and will update you on how it goes:)
I'm with Bubba on this one. I think elastic would by it's nature cause a "rebound" action that would totally screw up your release and it's timing, which is the most important tool you have in communication with your horse.