A mediocre romp. Rio was a decent movie but Fox will always be behind Pixar and Dreamworks in both animation and story. Rio 2 is not a great sequel. The new characters do not add too much to the story.
Kids will enjoy it. It's full of bright colors. But at the same time, I don't think this G rated movie is any more (or less) appropriate for kids than Mr. Peabody & Sherman, Legos, or Frozen. It's a "G" rating meaning it's more for kids than anyone else, while "PG" means for everyone, usually.
This movie will be playing at every daycare this summer. See it if you must, but it's not that good.