Picturebooks were one format of multimodal text used during the classroom-based research that is featured in this article. Although the research conducted with a class of grade 7 students had several overarching purposes, the two most relevant to this article were to investigate student development of visual meaning-making skills and competencies by focusing on specific visual elements of art and design in a selection of multimodal texts, and to explore student comprehension, interpretation, and analysis of multimodal texts. This article focuses solely on the students' responses to and interpretations of some of the artwork in the picturebook "The Wolf's Story: What Really Happened to Little Red Riding Hood" by Toby Forward (2005). As a result of the content analysis of the students' written responses to this particular picturebook, point of view, framing, and color are the three semiotic resources of image featured in the discussions. Brief overviews of relevant literature and the theoretical frameworks that guided the exploratory study with the grade 7 students are followed by descriptions of the research context, the instructional unit, and the procedures used for analyzing the students' written responses. Excerpts from the students' work reveal their observations and interpretations of particular images in "The Wolf's Story." The article concludes with a consideration of various teaching and learning issues pertinent to the exploration of artwork in picturebooks in middle years classrooms.