We have used a Linkam CSS 450 stage equipped with an optical microscope to study online the evolution of the morphology and structure of polyamide 6 (PA6)–poly(styrene-ethylene-butadiene-styrene) (SEBS)–polypropylene (PP) ternary blends under shear flow. At a high shear rate (60?s^?1), large drops of PA6 and SEBS broke up to form small randomly distributed PA6 droplets covered by SEBS in the PP matrix. These droplets aggregated into a well-ordered structure, i.e., parallel clusters, after decreasing the shear rate abruptly to within the range of 1.5–3.5?s^?1. Interestingly, these parallel clusters were aligned perpendicular to the direction of shear flow. An important feature of these parallel clusters is that they can be maintained for a long period of time (several tens of minutes) at the given shear rate or after cessation of flow; this feature allows us to freeze the structure by decreasing the temperature.