The metal is smooth, but not shiny. It is super bendable. As soon as I realized what it was, I stopped handling it and washed my hands.
Lead is heavy, but seems such an odd choice for a weight in a consumer device. It must have been cheaper or even free.
I’ve never heard it compared to clay but yeah it does make sense. Lead flashing is probably a little bit thicker than what you have and it’s very pliable, it can easily be shaped with just one finger, I can definitely see how it could be called squishy.