The development of flexible and stretchable sensors has been receiving increasing attention in recent years. In particular, stretchable, skin-like, wearable sensors are desirable for a variety of potential applications such as personalized health monitoring, human-machine interfaces, and environmental sensing. In this paper, we review recent advancements in the development of mechanically flexible and stretchable sensors and systems that can be used to quantitatively assess environmental parameters including light, temperature, humidity, gas, and pH. We discuss innovations in the device structure, material selection, and fabrication methods which explain the stretchability characteristics of these environmental sensors and provide a detailed and comparative study of their sensing mechanisms, sensor characteristics, mechanical performance, and limitations. Finally, we provide a summary of current challenges and an outlook on opportunities for possible future research directions for this emerging field.