Dwarfs have an exceedingly difficult time with the long bow. First, they have to stand on something so the bow can clear the ground (they are not tall enough, the English long bow was about six feet long), and second their arms are not long enough to pull the bow back far enough. If your creatures stood on branches, the first is taken care of. If they have very long arms, the second is taken care of. But they have to be quite strong arms in compression (pushing away), not just tension (as hanging in trees would demand).
But a bow with a stock perpendicular to the bow, that takes the place of the human outstretched left arm, and braces against the right shoulder, might be workable. Sort of a hybrid between a cross-bow stock and a long bow. I am actually very surprised such a device was never added to the long bow, depending only on the strength of the left arm to draw it. The bow would be able to be drawn ahead of time, and then brought to bear at a convenient time.
However, if you give your creatures the technology, a cross bow would be ideal. They could cock it using their feet while hanging in the trees by one hand.