Custom element japanese name:kurogane houmen
Custom element english name: Iron Release
The element is based on:Earth and fire mix with Chakra control  becomes liquid state then become iron
Facts that prove the element to be possible (in the manga context):  as we see in naruto manga Guren use Crystal Jutsu
Idea behind its creation:
 Iron is the most common element in the earth as a whole, and the fourth  most common in the earth's crust. It is produced as a result of stellar  fusion in high-mass stars, and it is the heaviest stable element  produced by stellar fusion because the fusion of iron is the last  nuclear fusion reaction that is exothermic. Iron is the most widely used  metal, and iron compounds, which include ferrous and ferric compounds,  have several uses as well.
 Iron has been used since ancient times, though not as early as bronze or  the other copper related alloys. Iron is ubiquitous in modern life; it  is used primarily for its structural strength.      
http://en.wikipedia.org/wiki/Iron#Oxides_and_sulfides  
Conditions to be able to use it:  Earth Mastery and Fire
Is weak to: Hellfire,Void,rubber,high rank Lightning jutsu
Is strong against: sand,dust,Ice, Fire, Earth, lower-level water  jutsus, certain wind jutsus.
Co-creators (if any): me only
Students i passed on this custom element: ? & ?None Atm
2 sample Jutsu
(kurogane houmen tate ) - Iron release - iron Shield       
 Rank: D
 Type: Defence
 Range: Short
 Chakra cost: 10
 Damage Points: 20
 Descripton: Creates small shield of iron, to block small tools, like  kunai's and shariken.
(kurogane houmen supaiku ) - Iron release - iron spike
 Rank: C
 Type: Attack 
 Range: Short-Mid
 Chakra cost: 15
 Damage Points: 30
 Descripton:The user creates spikes of Iron that come up from the ground  to stab the enemy.This jutsu can be made in a short or mid distance but  the jutsu its self is made of a 6 foot radius of spikes.