In recent years, there has been a growing fascination with suspended two-dimensional (2D) materials, owing to their excellent mechanical, optical, and electronic characteristics. This surge of interest stems from the remarkable properties exhibited by these materials when they are isolated in a two-dimensional counterpart. Nanofabrication technologies provide a new platform to further explore the properties of 2D materials by suspending them to reduce the influence of substrates. In recent years, many scientists have discovered the feasibility of using suspended membranes of 2D materials in various fields, including optoelectronics and photonics. This review summarizes the recent progress in the fabrication, characterization, and applications of suspended 2D materials, focusing on critical properties such as optical and electronic properties, strain engineering, and thermal properties. This area has the potential to lead to new technologies and applications in a wide range of innovative fields.