The album was produced by Rob Cavallo and contains songs written by Justin Hawkins, Rick Brantley and Jon Bon Jovi, amongst others.

Guests on the album include Brian May, Steve Vai, Paul Crook, Patti Russo, Hugh Laurie, Jack Black, Aly and AJ, and Pearl Aday.

A friend, Hollywood screenwriter Kilian Kerwin, gave Meat Loaf the idea of making a concept album.

That EP also includes a single edit of "If I Can't Have You" and a live version of "Hot Patootie (Bless My Soul)" recorded on the 2010 tour.

Writing for The Guardian, Caroline Sullivan said: "Hang Cool, Teddy Bear is of a piece with the rest of his catalogue: the pounding guitars never slacken, emotions are writ very large and the lyrics rarely lack sly wit...less happily, the tempo never varies – this album desperately needs a ballad – and 13 unrelenting tracks is a good deal more than enough.

"[6] The Times gave a positive review, saying: 'Everything about Meat's eleventh album screams novelty cabaret “metal”, yet this is his most credible record in three decades.

The Hang Cool Tour commenced on July 3, 2010, in support of the album and consisted of three legs through Europe and North America until August 5, 2011.