This paper proposes a new technique for the preparation of foamed Eucommia ulmoides gum (EUG)/high-density polyethylene (HDPE) shape memory composites and establishes the relationship between structures and properties in foamed shape memory composites. Eucommia ulmoides gum/HDPE shape memory composites are designed to memorize 2 temporary shapes by exploiting the different melting points of the 2 phases; the triple shape memory effect in the composites is investigated via mechanical measurements, thermal analysis, and shape memory behavior analysis. The results show that HDPE phase enables the composites to effectively memorize the first temporary shape and EUG phase contributes the second temporary shape. When the ratios of EUG and HDPE were 80/20 and 70/ 30, the composite exhibited satisfactory shape memory behavior with favorable shape fixity ratio and shape recovery ratio, in addition to excellent mechanical properties (tensile strength of 15 MPa, tear strength above 51 KN/m, and foam porosity of about 11%).