Novel styrene-butadiene polymer latex compositions and their utility for pressure-sensitive and other adhesive applications are described. These compositions, termed polytelomers, are based on the concept of synthesising sequentially a low glass transition temperature, high molecular weight (polymeric) fraction, followed by a high glass transition, low molecular weight (telomeric) fraction, in an attempt to simulate the compounding of elastomeric adhesives. Some of the described compositions can exhibit multiphase morphology, having discrete styrene-rich domains surrounded by butadiene rich phase, both of these phases being embedded in a "honeycomb" carboxyl-rich phase. The compositions were characterized by dynamic mechanical spectroscopy and by electron transmission microscopy, as well as by molecular weight distribution and glass transition temperature range data. Examples of adhesive applications are also given.