The Bubble Wrap Generation is the generation after Gen Y. This generation (from about 1995 onwards) is characterised by softness - i.e. they play alot of computer, generally overweight, their 'sport' is chess, and would prefer to play Age of Empires Expasion pack rather than socialising or being outside.
Jack: Why won't kids these days go camping or play sport?
John: Cause they're soft - they're all from the Bubble Wrap Generation