The authors proposed and tested a model of fable comprehension and appreciation. They proposed that fables are metaphoric in that they teach moral lessons about human activity, and that apprehension of the moral derives from a belief in a just world. In Study 1, children from kindergarten to 8th grade and college students received Aesop fables, reversed-outcome Aesop fables, and fable-like stories. As predicted, kindergartners and some 1st graders did not demonstrate a belief in a just world and did not differentiate between normal and reversed-outcome Aesop fables. Quality of morals provided by older participants was superior to that of younger participants. In Study 2, the quality of fable moral was found to be significantly correlated with quality of proverb and metaphor interpretation. Also, memory for goal or intention story elements was found to be related to quality of moral produced. Directions for future research are identified.