Convolutional Neural Networks (CNN) have shown promising results for displacement estimation in UltraSound Elastography (USE). Many modifications have been proposed to improve the displacement estimation of CNNs for USE in the axial direction. However, the lateral strain, which is essential in several downstream tasks such as the inverse problem of elasticity imaging, remains a challenge. The lateral strain estimation is complicated since the motion and the sampling frequency in this direction are substantially lower than the axial one, and a lack of carrier signal in this direction. In computer vision applications, the axial and the lateral motions are independent. In contrast, the tissue motion pattern in USE is governed by laws of physics which link the axial and lateral displacements. In this paper, inspired by Hooke’s law, we, first propose Physically Inspired ConsTraint for Unsupervised Regularized Elastography (PICTURE), where we impose a constraint on the Effective Poisson’s ratio (EPR) to improve the lateral strain estimation. In the next step, we propose self-supervised PICTURE (sPICTURE) to further enhance the strain image estimation. Extensive experiments on simulation, experimental phantom and in vivo data demonstrate that the proposed methods estimate accurate axial and lateral strain maps.