Abstract: This discovery relates to an erasable ink composition that can be erased using an ordinary pencil eraser. It can be used in ball point pens. Other applicators can be used.Of course, the composition includes colorant and solvent. The combination of a thermoplastic elastomer and plasticizer components are important to the composition. The elastomer is a block copolymer, and the plasticizer is advantageously an ester. Other components include lubricant, resin and dispersant. Concentration ranges for the colorant is from 0.1% to 60%, for the thermoplastic elastomer is from 8% to 30%; for the plasticizer is from 10% to 35%; for the solvent is from 10% to 40%; for the resin is up to about 12%; for the lubricant is up to about 8% and for the dispersant is up to about 2%, all percent by weight of the composition. The colorant is conventional; the thermoplastic elastomer and plasticizer are not conventional.