This paper presents the design and development of stretchable and deformable broadband antenna using low-cost silicone rubber-based dielectric substrate. A slot is introduced in the substrate to improve the stretchable behaviour. The dielectric properties of the substrate are measured using suspended ring resonator method. The proposed antenna uses silver elastomeric Lycra fabric as the conductive medium. The resistivity of the conducting Ag fabric is 1 $\Omega$ per sq. mm. The conducting patch and ground plane are attached with the substrate using silicone-based adhesive. The fabricated antenna is tested for its resonant characteristics using the vector network analyser.