Provided in the embodiments of the present disclosure are a method and apparatus for processing an effect video and an electronic device, and a storage medium. The method comprises: obtaining current position information of a target touch point in response to an effect triggering operation; determining, according to the current position information and a drawing parameter, a two-dimensional trajectory effect consistent with a motion trajectory of the target touch point; and displaying, in response to detecting that a three-dimensional display condition is satisfied, a three-dimensional trajectory effect that corresponds to the two-dimensional trajectory effect from a plurality of angles, and stopping displaying the three-dimensional trajectory effect upon the detection of an instruction to stop playing the effect video being satisfied.