Mood: The mood of the video appears to be playful and comedic, with a hint of mischief. The theme seems to revolve around friendship, fun, and possibly deception, given the title 'Jhootha Kahin Ka' which translates to 'A Liar' or 'False'. The overall emotion exuded is lighthearted and entertaining.

Environment: The setting appears to be a studio or a controlled environment with a green background. The presence of a 'TRUTH' and 'LIE' box suggests a game show or a comedic setting where the characters might be involved in some sort of challenge or prank.