The movie involves city folks who are terrorized by a killer silver blob. The blob would usually roam the sewers and it devours the human flesh from bones. It turns the body inside out when it sticks to the victim. A mad scientist creates a monster with vengeance on his enemies then soon he meets his own demise. I saw this on the SyFy channel horror marathon in 2003. Movie was in English and had color.
Maybe it is too obvious, but
“The Blob” (1988)?
https://en.wikipedia.org/wiki/The_Blob_(1988_film)
Nope not what I am searching for thanks though!
The Stuff (1985)?
https://www.imdb.com/title/tt0090094/
No I tried that movie too. It was involving silver stuff not white stuff.