Net-Y is a new two-dimensional carbon structure, which has attracted research interest recently. Here, we study the related AB-type ribbons with edge modification, focusing on their strain controlling effects on their electronic structure and device characteristics. Intrinsic ribbons are metals, but hydrogen or oxygen termination can transform them into semiconductors. Applying strain can effectively control the band gap size, resulting in a transition from an indirect band gap to a smaller direct band gap under appropriate strain, favorably to light absorbing. Strain can also alter the work function of ribbons, especially for compressive strains, the work function is lowered significantly, beneficially to improve the field emission behaviors of ribbons. The analysis demonstrates that the change in band gap size is closely related to the variation of bonding and non-bonding composition between atoms with strain, While the change of work function is due to the alteration of the attraction and repulsion forces between atoms upon strain. More interestingly, the strain can significantly regulates the I-V characteristics of devices based on the related ribbons. Therefore, a strain-gated mechanical switch with a very high current switching ratio Ion/Ioff can be obtained by making it reversibly work between the "on" and "off" states with stretching and compressing ribbons, which is of great significance to develop logic circuits for flexible wearable electronic devices.