Reconstructing and simulating elastic objects from visual observations is crucial for applications in computer vision and robotics. Existing methods, such as 3D Gaussians, provide modeling for 3D appearance and geometry but lack the ability to simulate physical properties or optimize parameters for heterogeneous objects. We propose Spring-Gaus, a novel framework that integrates 3D Gaussians with physics-based simulation for reconstructing and simulating elastic objects from multi-view videos. Our method utilizes a 3D Spring-Mass model, enabling the optimization of physical parameters at the individual point level while decoupling the learning of physics and appearance. This approach achieves great sample efficiency, enhances generalization, and reduces sensitivity to the distribution of simulation particles. We evaluate Spring-Gaus on both synthetic and real-world datasets, demonstrating accurate reconstruction and simulation of elastic objects. This includes future prediction and simulation under varying initial states and environmental parameters.