I'm sure many of you already know of Knuffle Bunny: A Cautionary Tale, by Mo Willems, but we've been reading it a lot recently, and it's just pure fun. Aside from the fact that the pictures are awesome (it superimposes brightly colored illustrations over black and white photographs), the story is adorable and tells what happens on an afternoon when dad is in charge and he takes his little girl to run what should be an otherwise mundane errand. Your child will especially relate to the story if he or she has a cherished lovey or stuffed animal that comes with him wherever he goes.
What I really love about Knuffle Bunny is that it has a simple three act plot and it is very easy for kids to follow and comprehend. So much so, in fact, that Pickle, without fail, always takes the book from me after I read it to him so that he can "read" it to me. He has been doing this a lot lately, but this is the first book in which he can actually tell me the story from start to finish, he doesn't skip pages, and his "version" actually stays true to the book. It never fails to excite me, and even better is watching him say "The End!" and close the book with the sweetest smile of pride and satisfaction. A must have for your library!