The present disclosure provides a display substrate and a display device, wherein the display substrate includes a substrate body, the substrate body includes a plurality of island portions spaced apart from each other, a plurality of connection areas connecting the plurality of island portions, and a penetration portion penetrating the substrate body among the plurality of connection areas, at least a portion of each edge of the island portion is connected with the connection area; each island portion is respectively provided with a plurality of pixel groups, each pixel group includes a first pixel unit and a second pixel unit which are adjacently arranged along a first direction, an arrangement of the sub-pixels in the first pixel unit is different from an arrangement of the sub-pixels in the second pixel unit, the plurality of pixel groups form an n×m arrangement on the island portion and cover the whole island portion.