Rubber "O" rings won't work with the Canon EF Steve because the batteries in that particular camera need to make electrical contact all the way round, and. need to be of a conductive material like Copper.
For most cameras like the Spotmatic or the Canon FTb you could use a rubber "O" ring and with the EF Steve you could use a circle of copper wire of the right gauge around each battery to make electrical contact I suppose, but I'm going to send for machined ones that I put a link to in my previous post it's a cheap elegant solution, and you can get the hearing aid batteries anywhere.