Intrinsically stretchable light-emitting diodes (LEDs) are foundational components for next-generation free-form displays. Here, we present recent advances in electroluminescent materials for intrinsically stretchable LEDs, including molecular plasticizer–light-emitting polymer blends, elastomer-light-emitting polymer integration, thermally activated delayed fluorescence polymers, and inorganic semiconductor nanocrystals–elastomer composites. Critical challenges—improving luminous efficiency, stability, patterning, and developing stretchable electrodes and transport layers—are discussed, providing clear pathways toward practical applications.