Show me the way to go Foam!

I have in my possession a bag of foam! I collected this bag of foam from a kindly lady in Colchester through freecycle and am determined to turn its into a work of art. This will be a challenge but as I acquire more stuff from freecycle I become more optimistic about the possibilities for using materials in creative ways. This bag of foam, as you can see from the picture, came to me in a help the aged collection bag...I don't know if there's a message in that but it seems a bit odd and the kind of co-incidence I just can't ignore. Although, saying that I am going to ignore it for the time being anyway whilst I go on a journey of discovery to find out exactly what kind of foam it is, and what it can be used for, so that I may transfoam it back into a desireable form! Onwards!!