It connects the city districts of Blasewitz and Loschwitz, two affluent residential areas, which around 1900 were amongst the most expensive in Europe.

This common name purportedly referred to the bridge's original blue colour and being seen as a technological miracle at the time; it is also understood to carry the cynical connotation referencing the German idiom ein blaues Wunder erleben meaning "to experience an unpleasant surprise" (literally: "to experience a blue wonder"), reflecting the skeptical view of contemporary commentators.

Towards the end of World War II, an SS unit attempted to destroy the bridge, but this was prevented when two people cut the detonator wires.

[1] Preserved in its original construction, the advanced age of the structure in recent years has led to some traffic limits.

The surrounding area of 19.3 km2 (7.5 sq mi) of the Elbe meadows was declared a cultural World Heritage Site by the UNESCO in 2004, but lost the title in 2009 following the construction of the Waldschlösschen Bridge, meant to relieve congestion on the Blue Wonder.