Elaborated optical and thermal modulatory systems are of great importance to the survival and evolution of organisms in nature. Inspired by these natural intelligent systems, researchers have made great efforts for developing stretchable polymers and exploring their applications in fields of communication, dynamic camouflage, thermal management, and others. Herein, an up‐to‐date account of the advancements in bioinspired stretchable polymers for dynamic optical and thermal regulation is provided. First, stretchable polymers for dynamic structural colors are presented, including cholesteric liquid crystal elastomers, photonic crystal elastomers, and emerging photonic polymers. Then stretchable polymers for dynamic infrared emissivity are introduced, which are achieved by stretch‐induced wrinkled‐flat surface or stretch‐induced cracked surface. Third, stretchable polymers for dynamic thermal management are discussed, focusing on tunable solar transmittance and dynamic radiative cooling. Moreover, the perspectives on the opportunities and challenges for future research directions of bioinspired stretchable polymers are presented at the end.