An archery bow is provided including a cable guard and/or cable guide that can flex to selectively move a cable relative to a plane in which a bowstring of the bow travels to minimize cam lean, limb twist, and/or cable wear. The cable guard and/or guide can move toward the bowstring plane as the bowstring is drawn, and away from the bowstring plane, out of the way of the bowstring and any attached arrow, after the bowstring is released. The cable guard can define a bore, for example, an elongated bore, extending through it along an axis that is generally parallel to the bowstring when the bowstring is undrawn. The cable guard bore can operate as a cable guide, and can include a rounded opening to minimize abrasion to a cable moving through it. A ceramic element can be included in the bore to minimize abrasion to the cable.