Slide-ring (SR) gels, a new type of gels that have cross-links moving along the chains, are known to have unique mechanical characteristics. In the case of biaxial deformations, it has been experimentally shown that the stress–strain (S–S) relationships of SR gels can be well described by the neo-Hookean (NH) model. This behavior is quite different from that of conventional chemical gels, where the S–S curves deviate from the NH model. To understand the molecular mechanism of such peculiar elastic properties of SR gels, we studied the effects of movable cross-links by using molecular simulations and theoretical analysis. We calculate the S–S relationships in biaxial deformation for two types of models: slip model, where the cross-links can slide along chains representing SR gels, and non-slip model, which corresponds to conventional chemical gels. In the theoretical analysis, we calculate the S–S relationships by using the models with the Gaussian and the Langevin chains to investigate the nonlinear stretching effect of the chain in the slip and non-slip models. As a result, we found that the peculiar elastic behaviors of SR gels in biaxial deformations are well explained by the effect of movable cross-links suppressing the nonlinear stretching of the chain.