Mood: The mood of the video appears to be lighthearted and playful, with a focus on friendship and youthful energy. The theme seems to revolve around the upsides and downsides of friendships, as hinted by the title 'Dosti Ke Side Effectss'. The overall emotion conveyed is carefree and joyful.

Environment: The setting appears to be an outdoor location, possibly a college or university campus, given the youthful attire of the individuals and the brick wall with a building in the background. The sky is cloudy with a hint of sunrise or sunset, adding to the serene and pleasant atmosphere.