AllMusic's Stephen Thomas Erlewine wrote: "Cold and Bouncy is an accurate description of the High Llamas' music, in many ways. On the surface, it's light and airy, with sprightly or sighing melodies, sometimes quite detailed, but that very attention to detail keeps the music at an emotional distance ... While it's not the marathon of Hawaii, the album still runs way too long, lasting well over an hour. Instead of adding depth, the length makes O'Hagan's ideas difficult to assimilate, and by the end of the record, it sounds like he only has variations on a handful of themes. But when the album is consumed in small doses, however, O'Hagan's flair for arrangement and sonic detail burns brightly."
