The surge in demand for cost-effective, lightweight, and rapidly responsive sensors has propelled research in various fields, and traditional sensors face limitations in performing up to the mark due to their intrinsic properties and a lack of innovative fabrication techniques. Consequently, over the last decade, a notable shift has been toward harnessing naturally existing nanostructures to develop efficient and versatile sensing devices. One such nanostructure in morpho butterfly wings has attracted attention because of its vibrant uniqueness and diverse sensing properties. This review will explore recent interdisciplinary research endeavors on the nanostructure, including chemical, vapor, and acoustic detection. Furthermore, its potential as an infrared sensor, considerations related to heat transfer properties, and a brief overview of various replication techniques and challenges encountered in reproducing the intricate nanostructure are discussed.