Blends of chlorinated polyethylene and nylon-6/-6,6/-12 terpolyamide were prepared. The ratio of the two components was systematically varied within the blends. The mechanical behavior of the samples was analyzed with tensile tests and dynamical mechanical analysis showing that, for several ratios, materials with improved mechanical properties typical of thermoplastic elastomers were obtained. In such a mechanical regime, a co-continuous phase-separated morphology was clearly evidenced at the microscopic scale by 3D laser scanning confocal fluorescent microscopy (LSCFM). At blend compositions where plastic tensile behavior is observed, LSCFM reveals dispersed spheres of one component in the other.