The purpose of this work is to characterize the mechanical behavior of blends of polycarbonate (PC) and acrylonitrile-butadiene-styrene (ABS) during monotonic and cyclic loading. Compression experiments were performed using a SHIMADZU universal testing machine (10−4 to 10−2 s−1) and a split Hopkinson pressure bar (1600–5000 s−1), with, the test temperatures ranging from 293 to 353 K. The influence of the rate and temperature on the deformation of PC/ABS is discussed in detail. Based on the investigation of numerous constitutive models, a phenomenological model called DSGZ was chosen to describe the compression behavior of PC/ABS. This model could not accurately reproduce the deformation of polymers at high strain rates when utilizing the same material coefficients for the low and high strain–rate deformations. In addition, this model was unable to capture the deformation features during unloading and subsequent reloading when adopting the original stress–strain updating algorithm. Hence, some improvements to the model have been implemented to better predict the deformation. Finally, the model predictions are shown to be consistent with the experimental results.