Slime Armor is one of the best sets in the game (Check the Tools Page for stats) Below are the requirements to make the sword and armor.  Both the Sword and the Armor can be repaired w/ Slime Gems.

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Slime Sword Cost: Blaze Rod, 4 Obsidian, 4 Gold Nuggets,

24 Diamonds, 2 Nickel Ingots, 128 Gold Ingots, 16 Emeralds, 56 Slime Gems, 16 Malachite Ingots, 96 Slimeballs

 

Slime Armor Cost: 24 Diamonds, 96 Slime Gems, 120 Slimeballs, 72 Gold

 

Full Slime Set Cost: Blaze Rod, 4 Obsidian, 4 Gold Nuggets, 48 Diamonds, 2 Nickel Ingots, 200 Gold Ingots, 16 Emeralds, 152 Slime Gems, 16 Malachite Ingots, 216 Slimeballs