This movie deserves its acclaim; it's a classic. The acting and writing are wonderful, and there are some outstanding dramatic and comic moments. But most kids will probably think it is too slow. It is a subtle movie with little dialog.
William Goldman wrote in "Adventures in the Screen Trade" that he was fascinated by the idea of two criminals who achieved legendary status in the US, and then went to Bolivia and were even more legendary there. They recaptured their past, as so many wish to do but never manage.
The soundtrack is one of the best ever, too. Burt Bacharach did a great job, not only on "Raindrops Keep Falling on My Head" but also "South American Getaway" and all the others.
It isn't for kids. It doesn't really have a lot of positive messages, except for presenting an enduring friendship, but it is great anyway.