The best documentary about modern Brazil available. As you can expect, it covers the most common clichés about Brazil (Amazon, carnival, soccer, beaches and shanti towns), but does that in an almost unbiased way.
The documentary focuses on what is probably most appealing for foreigners and unfortunately leaves out the common people in Brazilian large cities where most of the population lives, the beautiful northeastern coast and the rich European heritage of southern Brazil, but gives a good general idea of how some average Joe lives, which is great.
Just be warned that if you plan to visit Brazil anytime soon, you'll probably be a little disappointed by not seeing most of the stuff shown here unless you really look for them.
Mostly because Brazil is huge and very different from place to place and secondly because the documentary is more concerned about what is picturesque than with what is common.