A new and distinct cultivar of Red Hot Poker plant named Kniphofia ‘;Hot and Cold’; with long, gracefully-arching, strap-like, keeled, glaucous, gray-green foliage and numerous scapes beginning in late spring and repeating for six weeks. Habit is densely growing, winter-hardy, tolerant of lodging, heat, deer and rabbits. Numerous scapes of vivid reddish buds and contrasting open flowers of pale greenish-yellow on tall scapes beginning in late spring and repeating repeating for six weeks. The new plant is useful for landscaping as a specimen, en masse, or as a long-lasting cut flower.