A bushing having rotatable inner elements which includes a plurality of housings and a plurality of rubbers and into which a stabilizer bar is inserted to be mounted on a vehicle body, may include an outer housing connected to a lower end of a rod connected to the vehicle body, an outer rubber attached on the inner surface of the outer housing, a first inner housing disposed in the outer rubber, a second inner housing disposed in the first inner housing to be rotated with respect to the first inner housing, an inner rubber disposed in the second inner housing, and being in contact with a surface of the stabilizer bar, and a retainer ring formed in a partially-cut ring shape such that the diameter thereof is increased, disposed between the first and second inner housings, and pressurizing the second inner housing toward the inner rubber.