If You Like The Shins and Lite-Brites...
It was directed by an NYU student filmmaker named Antonio Campos. He got the opportunity through the Breaking the Video project sponsored by MTV and Sub Pop Records , The Shins record label. The project gives college students and aspiring filmmakers/music video directors the opportunity to make a video for a well-known band. The bands then choose the winning concept among all the entrees.
Perhaps the boys in The Shins played with Lite-Brites while growing up, humming progressive pop melodies while all the other kids on the block were playing t-ball and torturing small animals. Whatever the reason they were drawn to this concept and its distinctive look, I'm sure glad they were. It's just what I would want a sleepless night to look like.