An ongoing controversy in evolutionary biology is the extent to which climatic changes drive evolutionary processes. On the one hand are “Red Queen” hypotheses, which maintain that climatic change is less important than biotic interactions in causing evolutionary change. On the other hand are “Court Jester” models, which recognize climatic change as a very important stimulus to speciation. The Quaternary Period (the last 1.8 million years), characterized by multiple climatic changes in the form of glacial–interglacial transitions, offers a fertile testing ground for ascertaining whether cyclical climatic changes that operate at the 100,000-year time scale appreciably influence evolutionary patterns in mammals. Despite the increased potential for isolation of populations that should occur with multiple advances and retreats of glaciers and rearrangement of climatic zones, empirical data suggests that speciation rates were neither appreciably elevated for Quaternary mammals, nor strongly correlated with glacial–interglacial transitions. Abundant evidence attests to population-level changes within the Quaternary, but these did not usually lead to the origin of new species. This suggests that if climatic change does influence speciation rates in mammals, it does so over time scales longer than a typical glacial–interglacial cycle.