Agalychnis callidryas usually reproduce in the rainy season. The reproduction process is initiated by a croaking and quivering mating ritual described below. Red-eyed tree frogs utilize a process called amplexus, a common form of reproduction for frog species. In amplexus the smaller male clasps the larger female when her eggs are mature. The male inseminates the eggs as they emerge from the female, and he does not leave until the eggs have been laid. Amplexus may persist for a day or longer.
As reproduction takes place on the underside of leaves, the female must hold on to the underside of the leaf with her suction-cup toes, holding on for both herself and her mate. Each group of eggs that a female produces is called a clutch, and the female must enter the water after laying each clutch, with the male still attached to her back, in order to fill her bladder with water. If the female does not fill her bladder between clutches, her eggs will dry up and die. Sometimes when a female and her mate enter the water, other males see them entering and attempt to force the male from her back. If this is accomplished, another male will take his positon and fertilize the next clutch eggs.
While most frog species lay their eggs directly into the water, A. callidryas lay theirs on the underside of leaves that hang over bodies of water. When the clutches of eggs have developed into tadpoles, which occurs very quickly, the tadpoles swim around within their eggs until the egg ruptures. The rupturing of all the eggs in the clutch occurs within a one minute time period, and the fluid released from the ruptured eggs helps to wash all the tadpoles down the leaf and into the waiting water below. Reproduction is a very strenous activity for A. callidryas.
(Hickman and Roberts,1995, http://www.discovery.com/)