This article presents research that used ethnographic and sociolinguistic methods to study ways participants learn through reflection when carried out as a "circle talk." The data indicate that participants in the event (a) invoked different contextual frames that (b) implicated them in various identity positions, which (c) affected how they could express their knowledge. These features worked together to generate socially shared meanings that enabled participants to jointly achieve conceptualization--the ideational role "reflection" is presumed to play in the experiential learning process. The analysis supports the claim that participants generate new knowledge in reflection, but challenges individualistic and cognitive assumptions regarding how this occurs. The article builds on situated views of experiential learning by showing how knowledge can be understood as socially shared and how learning and identity formation are mutually entailing processes.