This article analyzes language practices that 5th grade students in a two-way bilingual education (TWBE) program used to position themselves relative to peers and to transcendent scripts (Gutiérrez, Rymes, & Larson, 1995; Reyes, 2006) about ethnicity and ability (academic and linguistic) that attach themselves to students through their various classifications (McDermott, Golden, & Varenne, 2006). The study relies on analysis of data collected through ethnographic observation as well as transcribed recordings of student interactions and semi-structured interviews to show how students reject, take up, or impose stereotypes connected to identity dimensions. I rely on an analytical framework of "translanguaging" (García, 2009) to show how students leverage their multilingual and multimodal communicative competencies to forge alliances, tell stories, and reject stereotypes. This work adds to an emerging literature on translanguaging that thus far has largely focused on classroom learning and academic tasks.