Thank You features most of the band's singles and notable songs, although "Dead & Bloated", "Crackerman", "Unglued", their version of Led Zeppelin's "Dancing Days", and "Hollywood Bitch", which were all fan favorites as well as modest rock radio hits, were left off the album. There are two versions of the compilation, one that only contains a music CD and another that also features a DVD with live performances, bootlegs (including a performance of the Aerosmith song "Sweet Emotion" with Steven Tyler and Joe Perry), and music videos spanning the band's career.
Thank You was called "nearly perfect" by Allmusic's Stephen Erlewine, who wrote that "STP made music that sounded great at the time and even better now" and that the band's music had "stood the test of time." Rolling Stone, who initially named STP as the Worst New Artist of 1993, gave the compilation album 4 out of 5 stars.
An earlier greatest hits album, to be titled Big Bang Babies, was planned for an October 2000 release. In addition to twelve of the band's biggest numbers, the album was to feature four new songs, including "Heed the Water Whisperer", "The Way She Moves" and "You Can't Drive Me Away." STP planned to record the new material in New York with producer Brendan O'Brien in mid-2000.