Aluminum foam (AF) and polyurethane elastomer (PUE) are commonly utilized in the production of lightweight energy-absorbing components, owing to their exceptional energy absorbing properties and specific energy absorption. The dynamic mechanical properties of AF-PUE composite materials have been analyzed through experiments and simulation in this study. Meanwhile, the deformation pattern of AF-PUE under low impact loading is analyzed by utilizing neural network inverse identification and numerical simulation to determine the material parameters of AF. The results indicate that the stress–strain curve of AF-PUE during dynamic compression can be primarily divided into two stages: the initial stage, which is characterized by PUE compaction; the subsequent stage, which is marked by AF collapse and crushing. The interlayer fusion deformation mechanism of AF-PUE and the layer-by-layer and synchronous deformation mechanisms are elucidated by investigating the density, strain rate, and microporous structure and using digital image correlation (DIC). These findings are further validated using numerical simulation. The mesoscopic deformation mechanism of a composite comprising two layers of AF-PUE under high-velocity impact is also investigated. The results emphasize the importance of density arrangement in determining dynamic crushing behavior.