An adjustable adhesive bandage, comprising a flexible planar surface. The flexible planar surface includes an adhesive side, a non-adhesive side, a peripheral edge, a long axis and a short axis. The adhesive bandage has a gauze pad that is peelably engaged to the adhesive side of the flexible planar surface. A plurality of perforations are emplaced across the flexible planar surface. The plurality of perforations may be lacerated to adjust the shape or size of the adhesive bandage. The adhesive bandage may further comprise a waterproof cover peelably engaged to the flexible planar surface. The adjustable adhesive bandage may be laminated to germ proof and waterproof the bandage.