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An eraser, (also called a rubber outside America, from the material first used) is an article of stationery that is used for removing writing from paper or skin. Erasers have a rubbery consistency and come in a variety of shapes, sizes and colours. Some pencils have an eraser on one end. Less expensive erasers are made from synthetic rubber and synthetic soy-based gum, but more expensive or specialized erasers are vinyl, plastic, or gum-like materials.
At first, erasers were made to erase mistakes made with a pencil; later, more abrasive ink erasers were introduced. The term is also used for things that remove writing from chalkboards and whiteboards. Ink erasers are denser, allowing them to erase pen marks.

Source: Wikipedia