Recent two-dimensional numerical simulations and experiments have shown that, when a drop undergoes shear in a viscoelastic matrix liquid, the deformation can undergo an overshoot. I implement a volume-of-fluid algorithm with a paraboloid reconstruction of the interface for the calculation of the surface tension force for three-dimensional direct numerical simulations for a Newtonian drop in an Oldroyd-B liquid near criticalities. Weissenberg numbers up to 1 at viscosity ratio 1 and retardation parameter 0.5 are examined. Critical capillary numbers rise with the Weissenberg number. Just below criticality, drop deformation begins to undergo an overshoot when the Weissenberg number is sufficiently high. The overshoot becomes more pronounced, and at higher matrix Weissenberg numbers, such as 0.8, drop deformation undergoes novel oscillations before settling to a stationary shape. Breakup simulations are also described.