The emergence of flexible and stretchable optoelectronics has motivated the development of new transparent conductive electrodes (TCEs) to replace conventional brittle indium tin oxide. For modern optoelectronics, these new TCEs should possess six key characteristics: low cost, solution-based processing; high transparency; high electrical conductivity; a smooth surface; mechanical flexibility or stretchability; and scalable, low-cost patterning methods. Among many materials currently being studied, silver nanowires (AgNWs) are one of the most promising, with studies demonstrating AgNW films and composites that exhibit each of the key requirements. However, AgNW-based TCEs reported to date typically fulfill two or three requirements at the same time, and rare are examples of TCEs that fulfill all six requirements simultaneously. Here, we present a straightforward method to fabricate AgNW/polymer composite films that meet all six requirements simultaneously. Our fabrication process embeds a AgNW network patterned using a solution-based wetting-dewetting protocol into a flexible or stretchable polymer, which is then adhered to an elastomeric poly(dimethylsiloxane) substrate. The resulting patterned AgNW/polymer films exhibit ∼85% transmittance with an average sheet resistance of ∼15 Ω/sq, a smooth surface (a root-mean-square surface roughness value of ∼22 nm), and also withstand up to 71% bending strain or 70% stretching strain. We demonstrate the use of these new TCEs in flexible and stretchable alternating current electroluminescent devices that emit light to 20% bending strain and 60% stretching strain.