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 NbSe2 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.