Elastic limit is like playing with a rubber band. When you stretch a rubber band very gently, it will stretch easily and then go back to its normal size when you stop pulling it. But if you start pulling the rubber band harder and harder, there will come a point where it stops being able to stretch back to its original size. This is called the elastic limit - it's like the rubber band's breaking point.
In other words, the elastic limit is the maximum amount that a material (like a rubber band) can be stretched or compressed and still go back to its original shape when the stretching or compression force is removed. Once you pass that limit, the material will not return to its original shape and might break or change its shape permanently. It's like trying to fit too much stuff into a box - eventually, the box won't be able to hold any more and will break.