Jim thinks the dog in the picture is a detective dog. Bonnie thinks he's a fashionista trying on shoes. Nancy insists that he belongs to Pedro Pete (a character she recalls from last storytelling session), the illegal immigrant, and the dog stealing in the house while Pedro Pete cleans out the barn.
Wishbone, the dog, lost his master, but he knows shoes. That last master, named Matilda, must be a dancer because the shoes in the picture look like dancing shoes. Wishbone wants to be a dancer, too.
Nancy, looking closely at the shoes, contends these are not dancing shoes. Those are stretchers on the shoes, so Matilda must have been buying cheap bargain shoes that are too small for her feet.
Wishbone is listening to see if someone is coming. He's just curious, not afraid of who's coming. Jim suggests it might be Pedro Pete, the husband of Matilda, who is coming. Both Pedro Pete and Matilda like to steal things, and they are training Wishbone to help them. Jim says Wishbone is the lookout. This scene could be in someone's house, while Nancy says it could be in a shoe store, and Bonnie says in a shoe repair shop since the shoes are on stretchers. Bonnie says there might be sounds of police sirens or doorbells.
Bonnie thinks Wishbone gets caught by the police, but the dog will put on his innocent act. Matilda and Pedro left Wishbone there to take the rap. But wittily Nancy says, "Wishbone is like the Bush's baked bean dog: He's not going to talk." The moral of the story, Nancy concludes, is that you need to have a dog for a lookout. The end.