Mood: The mood of the video appears to be light-hearted and playful, with a theme of fun and entertainment. The colorful and cartoonish background, along with the bright clothing of the people, suggests a carefree and youthful atmosphere. The title 'Yeh Hai Lollipop' and the jukebox list of songs also imply a musical or comedy genre video.

Environment: The setting of the video seems to be an urban or suburban area, possibly a city or town with buildings and houses in the background. The cartoonish style of the buildings and the bright colors used suggest a stylized or fantastical representation of everyday life.