The Red-eyed Treefrog is an arboreal hylid native to Neotropical rainforests ign Central America.
During the mating season, when rainfall is at its highest, males of the Red-eyed Treefrog call ("chack") to get the attention of the female, who then caries him on her back around for up to several hours during the opposition process. The female chooses a leaf above a pond and lays her eggs, called a clutch. The eggs develop into small tadpoles , which hatch after several days and fall into the water below. Dragonflies, fish, and water beetles prey on the tadpoles. They remain in the water anywhere from 3 weeks to several months, until they metamorphose, or develop into frogs. After full metamorphosis weeks later, the juveniles crawl back into the undergrowth and security of plants in the vicinity of these pools, often in the hollows of tubular plants like bromeliads. The young mature after 2 years and begin mating at the age of 3–4 years.
Source en.wikipedia.org/wiki/Agalychnis_callidryas - 20.05.2010
Maybe the eyes are looking a little bigger because of the perspective, but alredy here it becomes clear, that the Red-eyed Treefrog has a perfecly fitting name ...