I very rarely endorse commercial items but this one I found to be exceptional for my needs!
While wandering around 'Primex' the other week or so I stumbled upon some "Rescue tape". Magic stuff it is for wiring looms. Normal insulation tape bleeds after a while and the tape shrinks exposing gluey bits which in turn attract dust and end up looking pretty shocking. This stuff is in actual fact a self amalgamating tape with no adhesive whatsoever, but it adheres to itself rather than the object it is protecting and 'self amalgamates' into a pliable shield around looms etc. If you stretch some around your finger and amalgamate the ends, after a minute or so, it joins and then you simply roll it off and 'voila' you have an "O" ring, and it will eventually amalgamate into this new form.
Check it out on-
Rescue Tape Australia - Home I hope it is of some use to you.
Regards
Glen