Live on Two Legs consists of live performances of songs from different shows of the band's summer 1998 North American tour. Guitarist Mike McCready stated that the band released the live album due to the strength of Pearl Jam's shows on the tour. It debuted at number fifteen on the Billboard 200 album chart. Live on Two Legs has been certified platinum by the RIAA.
"Daughter" features vocalist Eddie Vedder singing lyrics to Neil Young's "Rockin' in the Free World" (as the band continues a quiet jam to "Daughter") along with lyrics to Pearl Jam's own "W.M.A." towards the end of the song. The album contains Pearl Jam's rendition of the Young song "Fuckin' Up".
AllMusic staff writer Stephen Thomas Erlewine gave the album three out of five stars. He said that "Pearl Jam still sounds good, but they lack the wild energy that distinguished their early years. Professionalism has its good points, however, and it's true that Live on Two Legs is eminently listenable, thanks in no small part to a fine track selection...Live on Two Legs is a souvenir, a thank you to fans who have stood by throughout the years, and on those terms, it's successful."Entertainment Weekly reviewer David Browne gave the album an A-. He said, "Despite the band's continuing self-importance and fuzzy-around-the-edges arrangements, this set of uptight anthems ("Corduroy", "Better Man", "Go") packs a post-grunge wallop."