For at least three decades, scholars have discussed the rationale for using picture books with English learners of all ages. Research on how older ESL and EFL learners can benefit from picture books, however, remains scarce. This study explored 25 Taiwanese university EFL learners' engagement in a predicting-reading-confirming-integrating plus reflective picture book lesson featuring a wolf-friendly version of "The Three Little Pigs." Analysis of multiple data sources was based on four dimensions of engagement: affective, behavioral, cognitive, and social. The findings revealed that using a picture book and meaning-making literacy activity with young adult EFL learners helped them interact with text, illustrations, and peers to construct meaning; developed their word knowledge and deep thinking; and infused learning with pleasure rather than pressure. The picture book lesson created a space in which the learning was active, constructive, and collaborative, and young adult EFL learners read happily ever after.