An adjustable exercise apparatus is provided that comprises a support component, first and second actuation elements, and first and second straps. The support component can be a belt or vest, for example, and can includes first and second ends that can be interconnected to form the support component in a loop. The first and second actuation elements are disposed along the support component and can be used to engage a portion of the respective first and second straps. Distal ends of each of the first and second straps can be engaged by a user for performing an exercise. In this regard, the straps can be at least partially elastically deformable. Further, the first and second actuation elements can be used to adjust the lengths of the straps to alter the tensile force exerted by the straps during exercise.