A chewy, sticky wad of flavored sugar (or sorbitol or xylitol if it's sugar-free, smarty-pants) that may come as a ball, a stick, a cube, a 6-foot strip in a pink plastic dispenser, etc. Typically flavored as either classic bubblegum, a fruit (juicy fruit, strawberry, watermelon, orange, kiwi, pineapple, dragonfruit, etc.), or some kind of mint (peppermint, spearmint, wintergreen, winterfresh, sweetmint, smooth mint, polar ice, fresh mint; the list goes on. What's the difference? Don't ask me.). Common uses include sticking it under desks, putting it in people's hair, playing with it as slime, using it as a currency/bribe, breath freshener, etc.
Person 1: You got any gum?
Person 2: Yes. Mint gum. $1 per piece.
Person 1: What?! THAT'S SO -- Okay. *hands over dollar*
Person 2: Nice doing business with you. *takes dollar, then takes chewed gum out of mouth and sticks it on Person 1's hand*
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A complex chart consisting of dates, page numbers, topics, etc. that math and science teachers enjoy making you do. Your teacher will harp at you to write down the table of contents every day and threaten your grade if you don't. It is intended to be useful, but for the most part, it's not.
Teacher, glaring at your paper: Have you done the table of contents for today?
You: N-n-no?
Teacher: *eyebrows raise* You have to do the table of contents every day! Minus 10 classwork points.