Saw this on TV the other night, but a search of USAnetwork turned up nothing. So, I did a Metacrawler search and came up with....
Sawdust Clay
Instructions for making your own clay out of sawdust. Materials Needed:
2 Cup Sawdust
1 Cup Dry Wallpaper Paste Water
Instructions: Blend the sawdust and the dry wallpaper paste together. Slowly add the water and stir until your mixture is a clay consistantly. Once you have your clay made you can make shapes, designs, creatures - whatever you want! Let your creations dry atleast 24 hours. Once they are dry you can sand them and paint them!
Have fun! Joe_Stein