A slinky is a long helical spring, usually made of steel. It is flexible and has appreciable elasticity. It produces transverse waves when one end is fixed and the other end is stretched and given a jerk at right angle to its length. It produces longitudinal waves when compressions are given at regular intervals of time at the free end of the slinky. A disturbance which propagates through a medium is called wave.
This video explains how to determine the velocity of a pulse propagated through a slinky or a stretched string.