A flexible substrate, a preparation method therefor, a display panel, and a display device. The flexible substrate includes a flexible substrate, and the flexible substrate includes a plurality of display regions arranged in an array and bridges connecting every two adjacent display regions. Each of the display regions is provided with a pixel structure. Each of the bridges includes a buffer layer, a first organic layer, a wiring layer, a second organic layer, and an inorganic layer arranged in sequence. A wire is disposed in the wiring layer. At least part of the wire includes alternately arranged metal segments and elastic conductor segments in the direction of extension of the wire.