Preservice teachers (PTs) tend to enter teacher education programs with naive understandings of the nature of teaching. In order to enhance their development of the knowledge, skills, and dispositions needed to be an effective educator, I designed an innovative Educational Psychology assignment in the practice of teaching. PTs (N=48) formed four-person teams and taught a lesson to their peers that was recorded using digital video. They then watched a DVD of the lessons they taught and each completed a guided reflection task on the experience. Responses were analyzed to identify PTs' self-reported insights about teaching. Findings indicate the emergence of new understandings regarding planning and organization, pedagogical strategies, delivery, content knowledge, and classroom management. Implications and recommendations for instructors are offered. (Contains 5 tables.)