Metal Rubber is a kind of material with nonlinear of resuming force. In the dynamic test of Metal Rubber based on the control of displacement loading, its force-displacement curve is a hysteretic loop. The hysteretic phenomenon is studied with the means theory and experiment in this paper. The generalized restoring force is the binary function of displacement and speed. For the binary function, it is unilateral to represent the hysteretic loop only on the displacement-force plane, so the space hysteretic loop is introduced. The important parameters of the linear vibration isolators are stiffness and damping coefficient, however the nonlinear vibration isolators have stiffness and damping function, which all need be identified from the tested data. The results have proved that the dynamic model can meet the requirements of dynamic analysis of Metal Rubber in engineering.