Graphene aerogels with unique properties, such as ultralow density, superelasticity, high specific surface area, and excellent thermal stability, have undergone great progress in the past decades. Especially, super-elastic graphene aerogels provide a highly attention-catching platform for developing advanced energy devices, pressure sensors, contaminates adsorbents, and electromagnetic wave shielding and absorption materials, and so forth. In this review, we begin with the introduction and discussion of various fabrication techniques and compare their advantages and disadvantages, focusing on the template-free assembly process and template-assisted assembly process. Then, we summarize the factors influencing the compressibility and elasticity of graphene aerogels, including intrinsic properties of building blocks, constituent materials, and structure design, and their wide applications. At the end, we discuss the current challenges and future prospects of this field.