My approach would be a glass shader with a modified IOR (1.46 is a value for gel that google gave me) with a very small amount of volume absorption. This node setup has given me really good results.
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A simple glass shader would work for this.
The trick is the bubbles. Have a read of this thread:
Basically, model the bubbles as a particle system and given them the same material as the gel - however…you must invert the normals so that Cycles knows these are air bubbles inside a refractive substance.
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