The fifth element is aptly named because it is the fifth successful attempt at manufacturing an element. In all actuality, it is the eighth element to have been attempted (with unsuccessful attempts at elements x, y, and z. These ended up becoming dark matter and imploding). The fifth element was originally created by Randall Flagg, a janitor at Los Adminos School for the Mentally Uninhibited, while mixing cleaning chemicals to remove graffiti from the cafeteria walls. He brought the mixture to the science dept when it jellyfied (turned to a gelatinous substance) after absorbing his sponge.
The symbol for the fifth element is "fe" and it in the gnoble solids family of the elemental table of elementary elements. The metric weight is 5.09732684. The half-life is believed to be around 25 years.