Epitaxially grown ternary III-arsenide-antimonide (III-As-Sb) nanowires (NWs) are increasingly attracting attention due to their feasibility as a platform for the integration of largely lattice-mismatched antimonide-based heterostructures while preserving the high crystal quality. This and the inherent bandgap tuning flexibility of III-As-Sb in the near- and mid-infrared wavelength regions are important and auspicious premises for a variety of optoelectronic applications. In this review, we summarize the current understanding of the nucleation, morphology-change and crystal phase evolution of GaAsSb and InAsSb NWs and their characterization, especially in relation to Sb incorporation during growth. By linking these findings to the optical properties in such ternary NWs and their heterostructures, a brief account of the ongoing development of III-As-Sb NW-based photodetectors and light emitters is also given.