We show that many existing elastic body simulation approaches can be interpreted as descent methods, under a nonlinear optimization framework derived from implicit time integration. The key question is how to find an effective descent direction with a low computational cost. Based on this concept, we propose a new gradient descent method using Jacobi preconditioning and Chebyshev acceleration. The convergence rate of this method is comparable to that of L-BFGS or nonlinear conjugate gradient. But unlike other methods, it requires no dot product operation, making it suitable for GPU implementation. To further improve its convergence and performance, we develop a series of step length adjustment, initialization, and invertible model conversion techniques, all of which are compatible with GPU acceleration. Our experiment shows that the resulting simulator is simple, fast, scalable, memory-efficient, and robust against very large time steps and deformations. It can correctly simulate the deformation behaviors of many elastic materials, as long as their energy functions are second-order differentiable and their Hessian matrices can be quickly evaluated. For additional speedups, the method can also serve as a complement to other techniques, such as multi-grid.