I cannot find it in apt-get. It is in 14.04.
3 Answers
It is not in the repos for 16.04 but it is available on launchpad
Install from the .deb with
sudo dpkg -i gpointing-device-settings_1.5.1-6ubuntu2_amd64.deb

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Don't install it, it works just the very first time and don't work after reboot gpointing-device-settings lost on reboot
Better use workaround like this: https://unix.stackexchange.com/questions/101867/make-mouse-movements-scroll-when-the-middle-button-is-held-down?noredirect=1&lq=1
Use xinput
commands, as explain in the response of the link above.

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1Can you please summarise the contents of the unix thread? Such that your answer is not only link-only answer. – Léo Léopold Hertz 준영 Aug 10 '17 at 14:38
Yes it is available. You have to enable the "Universe" repository in your package management settings or by uncommenting the lines for the universe repo in your /etc/apt/sources.list
file.
However, it doesn't seem to work well and it crashes constantly.
Click here for more info on how to enable the Universe repository.

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checkinstall
installs it as a .deb, sosudo apt-get purge gpointing-device-settings
. @AlikElzin-kilaka – Mark Kirby Jul 21 '16 at 15:54