PURPOSE: The titled expanded material useful as heat-shrinkable expanded labels for external packaging, having improved cushioning effect, etc., obtained by adding a polymer for improving elasticity and a blowing agent to an ethylene- propylene copolymer containing a fixed amount of ethylene, processing it into a film, drawing it in the crosswise direction.

CONSTITUTION: 50W95wt% ethylene-propylene copolymer containing 1W10mol% ethylene, preferably a copolymer in which ethylene is linked at random, is blended with 5W50wt% polymer for improving elasticity, preferably ethylene- vinyl acetate copolymer containing 30W40wt% vinyl acetate, and the blend is mixed with 0.2W5pts.wt. blowing agent based on 100pts.wt. total amounts of the ethylene-propylene copolymer and the polymer for improving elasticity. The composition is processed into a film, and drawn at 3W10 times draw ratio in the crosswise direction ( preferably at 100W130°C).