"I'm rubber, you're glue; whatever you say bounces off me and sticks to you" is a childhood retort or comeback often used in informal and playful exchanges. It is a simple phrase with a straightforward meaning, but its interpretations can vary. Here are several ways to explain or interpret this statement:

Reciprocal Insult:

The phrase is often used as a retort in response to an insult. By saying "I'm rubber, you're glue," the person is essentially turning the insult back on the one who delivered it. It's a way of deflecting negativity and suggesting that the words intended to harm have no effect.
Reflecting Criticism:

It can be used to deflect criticism or negative comments by suggesting that any negativity directed towards the speaker is reflected back onto the person making the statement.
Childish Defense Mechanism:

The phrase is commonly associated with children's playground banter. It reflects a simple and somewhat childish defense mechanism where one child tries to brush off teasing or criticism by bouncing it back to the other child.
Playful Banter:

In a more lighthearted context, the phrase can be used as part of playful banter or teasing among friends. It's a way of maintaining a light and humorous atmosphere during interactions.
Deflection of Responsibility:

It can be employed to deflect blame or responsibility. By saying the words bounce off like rubber, the speaker is implying that any accusations or negative statements directed at them don't affect them and instead stick to the accuser.
Simple Reversal:

The phrase is a simple reversal concept. Whatever negative qualities or comments are thrown at the speaker are rebounded onto the person making the statement.