The term 'Tree with Elastic Wood' can be broken down into two crossword solutions: YEW (3 letters) and ASH (3 letters). YEW is a coniferous tree that is native to Europe, North Africa, and parts of Asia. It is known for its elastic wood, which is used in making bows and other items. ASH is a deciduous tree that is native to Europe, Asia, and North America. It is also known for its elastic wood, which is used in making furniture and other items.