His updates came after United States and Thai officials confirmed Sunday that four boys had been rescued from a flooded cave network after spending 15 days trapped along with their soccer team and coach.
It would utilize parts used in the construction of the space firm's Falcon rockets, Musk says.
Engineers and rescue teams from around the world have reportedly poured into Thailand to assist the Thai government.
And on Twitter, he's also been offering outside-the-box ideas to help rescuers.
"Continue to be amazed by the bravery, resilience & tenacity of kids & diving team in Thailand", Musk said in another tweet.
The Thai Government said Mr Musk's team could help the rescue operation with location tracking, water pumping or battery power. He claims that two divers will be able to carry the creation, and its size will allow it to fit through narrow gaps to navigate the cave system.
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Musk said his Boring Co, which digs tunnels for advanced transport systems, had advanced ground penetrating radar, and suggested an air tunnel constructed with soft tubing like a Bouncy Castle could provide flexible passage out. With heavy rains expected in the coming days, there's a danger that the water level could rise, drowning the group.
Earlier Saturday, Musk tweeted there's "some good feedback from cave experts in Thailand" and that he's "iterating with them on an escape pod design that might be safe enough to try".
Musk's tunneling startup Boring Co. could potentially make available its massive drills or excavation expertise, but such an approach could be too unsafe for this mission. But before coming out of the cave the 12 boys and a soccer coach got trapped by flood water. Then, Musk confirmed that his team was on the way.
The rescue operation to save a Thai soccer team from the flooded Tham Luang Nang Non caves in northern Thailand began in earnest on Sunday, with an experienced team of divers rescuing four of the 13 members.