It is always fun to read and get involved in a story with children - sometimes a favorite story is read over and over again! Remember stories where the children got so involved, they were chiming in on parts? While you are reading and re-reading, you can be sneaking in valuable literacy lessons, too, that just seem like good fun!
Take a good look at the illustrations, alternating between black and white drawings and vivid color! For an animated version of the book, check YouTube - there are also other interesting videos, including the author acting out the story.
To act out the story yourselves, brainstorm with the children about the sounds that come up in the story ... and how you might recreate those sounds! Try to find things around the house that would make all the various sounds... "Hmmm, this part says "swishy, swashy".....what do we have that could make that sound?" Gather together some home-made sound effects or instruments that you could use to act out the story.
Make up simple symbols for the different scenes in the story and make posters to set on the floor and take a walk - a grassy field, some mud, etc. - while acting out the story. Play "what-comes-next" and make sure you backtrack at the end!
Have a good time reading!