Plas is cut by a bullet.
Plas easily changes color.
This was one of his first major post-crisis revivals, and before Grant Morrison evidently had a good handle on his power set (as bullets bounce off of him, and he needs a lot of concentration to change color).
"The Comic Book In America: An Illustrated History" - Mike Benton.
In this he highlights Plastic Man as one of the "Significant Seven"- The seven most historically significant superhero characters.
"Many modern readers may be surprised at Plastic Man's inclusion among these major superhero characters, given Plastic Man's more marginal status relative to these other characters. It is true that there are many characters who today are better known or more popular. But Plastic Man is of immense historical significance in the superhero comic book genre. At one time Plastic Man was the world's best-selling superhero. The character was also very influential to the comedic superhero sub-genre, a genre which, to a large extent, he created."
The link I quoted, which discusses Plastic Man's potential religious affiliation, is here:
A much prettier intro, though there is a bit of a continuity issue. Back in the late 80's, the monks playing a part in Plastic Man's decision to fight crime was retconned, and it was said that he was running from the army and flipped a coin whether to be a crook or a cape-for-hire. In this, obviously more recent origin, it has the monks playing their part again- but it ALSO has him working for the mayor for money.
So it seems to be a mesh of both... I quite like it though.
Curiously enough, it gives "must reads" to stories that I believe are pre-crisis, but also references Offspring, Plastic Man's son who I'm fairly positive is a post-crisis creation.
PS: Offspring's cool too, everybody should check him out.