The Elixir of Life is the Sim equalivent to rock music, violent computer games and anything you blame whenever your kids become criminals in real life. Except instead of turning your kids violent, the Elixir of Life makes your sim younger or older depending on what it feels like

You see, there are no actual errors in the game, everyone just had access to this horrible, manipulating source of doom juice to screw up their ages, and drank it after eating some toasted bread as if it was breakfast.