Doubt very much that it will go thru a serger. Serger thread is thinner than regular sewing thread because of the speed that a serger sew at.

Elastic thread probably won't go thru the regular top threading of your machine, either. If you can manage to thread it into the needle, the friction of the needle piercing the fabric over and over again will break the elastic thread. Try winding it by hand on to the bobbin and then sewing with it in the bobbin. Bobbin thread is just caught and held by the top thread, so you can control how it sews by adjusting the tension on the bobbin thread when you start to sew. That is the recommended way to sew with the heavier, decorative threads/thin yarns. I think I saw that also suggested for elastic thread.