The purpose of the present invention is to provide an oil-in-water emulsion composition thickened with a hydrophobically modified polyether urethane, the composition having improved high-temperature stability and giving a pudding-like unique feeling. The invention provides an elastic jelly-like composition characterized in that a hydrophobically modified polyether urethane has been incorporated into an oil-in-water emulsion including oil droplets with an average particle diameter of 150 nm or smaller. The elastic jelly-like composition is transparent or translucent, gives a pudding-like elastic feeling, has excellent viscosity stability at high temperatures, and is suitable for use as a cosmetic-preparation base. The hydrophobically modified polyether urethane is especially preferably a PEG-240/decyltetradeceth-20/HDI copolymer.