Living latex is fun. But slimes can be just as shiny and tend to show off the wearer within more as they tend to be translucent, where as latex tends to be opaque. I suppose there is also the question of how drippy you want your slime to be. Personally I prefer a good surface tension up until it's time for things to get really messy.
i've been working with a great latex specialized to answer that question
(if you are interested, search for zxc's latex dungeon)
what about latex tentacles?
Then you put the slime in the costume
Then you let the costume wear itself on you