I just conducted a science fair project and I found out that the rubber band under the heat is the most elastic due to the fact that the particles are separated and it's could be stretched further...
Thats very interesting that you would ask that, now you might not want to hear this, but I'm also interested in this question, I'm now researching it and other various things, but I would say drop all of the internet information and find out yourself... You could conduct a science fair project type of thing and just go for it. I don't think that you will be fully satisfied until you know for sure. Hope it helps ;D
The warmer the temperature, the more the elastic will stretch.
Yes, for people who want to know the more the temperature drops the less pliable the rubber band is.