A softening of the shear elastic constant c44 has been observed previously in Mo/Ni superlattices as a function of decreasing bilayer thickness below approximately 100 Å. We have prepared a series of Mo/Ni superlattice films by ion beam sputtering doped with varying concentrations of either aluminum or oxygen. The chemical and structural properties of these films were then determined using x-ray diffraction (XRD) and Auger electron spectroscopy (AES). The shear elastic properties were characterized by measuring the surface acoustic wave (SAW) velocity of the deposited films. We demonstrate structural and elastic property effects resulting from Al and O impurity incorporation in Mo/Ni multilayers.