A deformable inductive device includes an elastomer material having at least one deformable electrode and a liquid magnetic core formed in the elastomer material and containing a magnetic liquid. Depending on the device's configuration, the deformable element may be embedded in, attached to, or in close proximity with the liquid magnetic core. In some embodiments, the deformable inductive device may be configured as an inductor, solenoid, or transformer and the deformable electrode is at least partially embedded in the liquid magnetic core, for instance. In another embodiment, the deformable inductive device may be configured as part of a wireless power transfer system which includes a coil and a magnetic backplane having the liquid magnetic core with the coil being attached to or in close proximity to the magnetic backplane.