We have grown HgCdTe/CdTe multiple quantum wells by molecular beam epitaxy which show room temperature photoluminescence and sharp absorption steps at mid-infrared wavelengths. Quantitative chemical mapping, performed by transmission electron microscopy, indicates minimal interdiffusion during growth. Annealing experiments performed at higher temperatures show that the interdiffusion coefficient is a strong function of the depth of the interface below the surface. Absorption spectra have been accurately modeled with a square well/envelope function approach. The films have been used to passively mode lock color center lasers and produce pulses as short as 120 fsec near 2.7 μm.