In the model tree you will find "Materials". Double click on that to open the create material dialogue box.
Select Mechanical- Elasticity- Elastic and add the required elastic properties. Similarly add the plastic properties
Then from the main menu in materials module go to Section>Create>Name the section and select the type of structure and material distribution type>Continue>Select the material created>OK
To assign the material lastly go to Assign>Section>Select the part to which the new material is to be assigned>Select the named section from the list>OK
Your material will be successfully defined and assigned as well.