traction bands

Okay again I'm confused. I have several diesel locomotives that have a transition band on the wheels. Some are by the same manufacture, some are different, some I still trying to identify. I also have an old Tyco Clementine steamer that has traction bands on the tinder. So can I order just any...

Has anyone used this stuff? Does it work? Is it hard to apply? Do's and Dont's for using it? I believe that I would like to try it as I have deisel locos and powered tinders that have different size drive wheels. Seems easier that trying to order the different size traction bands...