Polymeric foams are now widely used and researched. The physical properties of polymeric foam can be related to a set of independent structural parameters or variables of the foam. Study of these variables and correlation with commercial FE packages is essential for reliable and faster product development. Some aspects of foam behavior are widely studied while some are little less, like correlation of physical unloading behavior. For example, a lot of work in the area of phenomenological constitutive modeling of uniaxial loading was done, though research in areas of unloading-reloading and their correlation still demands more attention. Increasing number of OEMs and suppliers are moving to computer simulations in the design phase to assess their future products. Hence, different parameters within FE packages play a significant role and also affect the results. Appropriate use of these parameters will narrow down error band and automatically reduce the cycle time and development cost. This brief review is expected to set the perspective for major research work done so far in terms of FE modeling correlation and constitutive modeling of polymeric foam vis-a-vis to its properties.