The present study describes the preliminary study of a new thermoplastic elastomer (TPE) Polylactic acid (PLA)-based filament with improved physical properties for Fused Deposition Modelling (FDM) 3D printing. The PLA was mixed with natural rubber (NR) and epoxidised natural rubber (ENR) at various blend ratios via melt blending. It was found that PLA blended with an 80/20 ratio of PLA/ENR offered balanced mechanical properties concerning tensile strength and elongation at break. Morphological studies revealed that ENR-25 droplets were distributed in the PLA matrix more uniformly than NR. Furthermore, the incorporation of NR and ENR-25 has significantly altered the PLA's blend thermal history, as confirmed by Differential Scanning Calorimetry and Thermogravimetric Analysis. The PLA/ENR-25 melt index was 14.12 g/min, three times higher than PLA/NR, demonstrating excellent rheological property essential in FDM 3D printing application.