Electronic correlations stemming from nearly flat bands in van der Waals materials have demonstrated to be a powerful playground to engineer artificial quantum matter, including superconductors, correlated insulators and topological matter. This phenomenology has been experimentally observed in a variety of twisted van der Waals materials, such as graphene and dichalcogenide multilayers. Here we show that spontaneously buckled graphene can yield a correlated state, emerging from an elastic pseudo Landau level. Our results build on top of recent experimental findings reporting that, when placed on top of hBN or NbSe$_2$ substrates, wrinkled graphene sheets relax forming a periodic, long-range buckling pattern. The low-energy physics can be accurately described by electrons in the presence of a pseudo-axial gauge field, leading to the formation of sublattice-polarized Landau levels. Moreover, we verify that the high density of states at the zeroth Landau level leads to the formation of a periodically modulated ferrimagnetic groundstate, which can be controlled by the application of external electric fields. Our results indicate that periodically strained graphene is a versatile platform to explore emergent electronic states arising from correlated elastic Landau levels.