Wonders was born in Detroit, Michigan. Her father is of Chinese ancestry and her mother is of European ancestry. They are both American in nationality. She is a niece of American fashion designer Anna Sui. She graduated from Harvard University magna cum laude, majoring in film studies and production, where she wrote for the college humor publication, The Harvard Lampoon.
Wonders started her film career as the protagonist, co-director, and lead screenwriter in the 2009 film A Trivial Exclusion. She also directed and wrote a feature-length film Last Migration in 2015. In 2019, she starred as Makayla in the psychological horror film Daniel Isn't Real. Wonders starred in a small role in 2020 comedy-drama film On the Rocks, directed by Sofia Coppola.
In 2021, Wonders joined the main cast of HBO Max's dramedy television series Generation as Riley, an independent and self-possessed mature high school student. In 2022, Wonders teamed up with Vogue China magazine to write and direct a short film titled Wake starring herself and Charles Melton.

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