In the era of flexible and foldable devices, liquid metals emerge as a champion because they are being liquid at or near room temperature in addition to having high electrical and thermal conductivities. Plasmonic resonance occurs when conduction band electrons on metal nanoparticle surface collectively oscillates with same frequency as that irradiated light. This plasmonic resonance has attracted great attention because of large electromagnetic field enhancements near metal nanoparticle and the regulating resonance wavelength with change in material, size, shape and surrounding medium of metallic nanoparticle. Incorporation of liquid metal nanoparticles in plasmonics provides unique properties towards sensing (heart rate monitors etc.) which can become wearable. So, developing liquid metal based low-cost and large-scale plasmonic nanostructures may provide more optical efficiencies, fast kinetics, low temperature processing, versatility, easy embedding in structures and stretchy devices. Present work focuses on literature review highlighting the study of optical properties (absorption and scattering efficiencies, LSPR tunability, Figure of Merit (FOM) and Refractive Index Sensitivity (RIS)) of noble metal-liquid metal nanostructures and future scope of the field. Simulations can be performed on the basis of Mie Theory for spherical nanoparticles and by DDA/FDTD method for non-spherical particles or arrays. The results can help to optimize the plasmonic nanostructures of suitable material, size and shape according to the need of application in particular region of EM spectrum.