Global average temperature in a 100-year control run of a model used for greenhouse gas response simulations showed low-frequency natural variability comparable in magnitude to that observed over the last 100 years. The model variability was found to be barotropic in the atmosphere, and located in the tropical strip with largest values near the equator in the Pacific. The model variations were traced to complex, low-frequency interactions between the meridional sea surface temperature gradients in the eastern equatorial Pacific, clouds at both high and low levels, and features of the tropical atmospheric circulation. The variations in these and other model parameters appear to oscillate between two limiting climate states. The physical scenario accounting for the oscillations on decadal time scales is almost certainly not found in the real world on shorter time scales due to limited resolution and the omission of key physics (e.g., equatorial ocean dynamics) in the model. The real message is that models with dynamical limitations can still produce significant long-term variability. Only a thorough physical diagnosis of such simulations and comparisons with decadal-length data sets will allow one to decide if faith in the model results is or is not warranted. ¿ American Geophysical Union 1992