The act of an old person taking out his/her dentures, and chewing on someone's arm and/or hand, the gums giving a squishy feeling on the victim' arm or hand is what gives it the name "gummy bears".
Jimmy: Dude, you look like you've been traumatized. What happened to you?
Erik: My grandfather gave me gummy bears when I told him that I didn't want him to keep buying me books and prune juice as christmas presents.
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