Bouncy goodness!
First of all, great slide stuff- cheerful and silly. I love the little cowbell rattle that comes in at the end of the slide part. There's an irresistible groove and atmosphere going on here! Lots of nice space in the bass- it moves around and stays interesting without getting in the way. Song-wise this loops really well. The sweet changes from :40 to the end lead into the cool guitar break/intro thing quite nicely. The mix is lively and sparkles without tiring the ear, even when I listen on my crappy headphones.
The tough thing about listening to a loop this good is making yourself click the stop button! It's like shooting your new pal.