AbstractUpcycling of cross‐linked rubbers is pressing. The introduction of dynamic covalent bonds into the networks is a popular tactic for recycling thermosetting polymers, but it is very challenging to integrate engineering performance and continuous yet stable reprocessability. Based on traditional rubber formulations, herein, a straightforward strategy is presented for constructing a skeletal network (SN) through interfacial crosslinking and percolation of rubbery granules in a rubber matrix. Rapid exchange reactions involving dynamic interfacial sulfides realize repeated “fragmentation and healing” in the solid‐state and consequent reconfiguration of the SN topology of the elastomer, thus endowing the resultant SN elastomer with continuous yet stable re‐extrudability. These SN elastomers with hierarchical structures exhibit high gel contents, high resilience, low creep, and reinforcibility competitive to traditional vulcanizates. Specifically, SN elastomers exhibit better overall performance than commercial thermoplastic vulcanizates (TPVs) materials. Overall, a new concept of thermoplastic vulcanizates is proposed, which will promote the sustainable development of rubbers.