Oscillatory brain activities have been traditionally studied in the context of how oscillations at a single frequency recorded from a single area could reveal functional insights. Recent advances in methodology used in signal analysis have revealed that cross-frequency coupling, within or between functional related areas, is more informative in determining the possible roles played by brain oscillations. In this review, we begin by describing the cellular basis of oscillatory field potentials and its theorized as well as demonstrated role in brain function. The recent development of mathematical tools that allow the investigation of cross-frequency and cross-area oscillation coupling will be presented and discussed in the context of recent advances in oscillation research based on animal data. Particularly, some pitfalls and caveats of methods currently available are discussed. Data generated from the application of examined techniques are integrated back into the theoretical framework regarding the functional role of brain oscillations. We suggest that the coupling of oscillatory activities at different frequencies between brain regions is crucial for understanding the brain from a functional ensemble perspective. Effort should be directed to elucidate how cross-frequency and area coupling are modulated and controlled. To achieve this, only the correct application of analytical tools may shed light on the intricacies of information representation, generation, binding, encoding, storage and retrieval in the brain.