Research indicates that affect influences whether people focus on categorical or behavioral information during impression formation. One explanation is that affect confers its value on whatever cognitive inclinations are most accessible in a given situation. Three studies tested this malleable mood effects hypothesis, predicting that happy moods should maintain and unhappy moods should inhibit situationally dominant thinking styles. Participants completed an impression formation task that included categorical and behavioral information. Consistent with the proposed hypothesis, no fixed relation between mood and processing emerged. Whether happy moods led to judgments reflecting category-level or behavior-level information depended on whether participants were led to focus on the their immediate psychological state (i.e., current affective experience; Studies 1 and 2) or physical environment (i.e., an unexpected odor; Study 3). Consistent with research on socially situated cognition, these results demonstrate that the same affective state can trigger entirely different thinking styles depending on the context.