Previous studies show that preschool children view negative emotions as susceptible to intentional control. However, the extent of this understanding and links with child social-emotional adjustment are poorly understood. To examine this, 62 3- and 4-year-olds were presented with puppet scenarios in which characters experienced anger, sadness, and fear. Forty-seven adults were presented with a parallel questionnaire. Participants rated the degree to which six emotion-regulation strategies were effective in decreasing negative emotions. Results showed that even the youngest preschoolers viewed cognitive and behavioral distraction and repairing the situation as relatively effective; compared to adults, however, preschoolers favored relatively "ineffective" strategies such as venting and rumination. Children also showed a functional view of emotion regulation; that effective strategies depend on the emotion being regulated. All participants favored repairing a negative situation to reduce anger and behavioral distraction to reduce sadness and fear. Finally, the more children indicated that venting would reduce negative emotions, the lower their maternal report of social skills. Findings are discussed in terms of functional emotion theory and implications of emotion-regulation understanding for child adjustment. (Contains 2 tables and 1 figure.)