Bullying is a considerable problem in schools. It has various negative effects on the children involved. The purpose of this qualitative study was to explore how children themselves interpret and construct bullying. Three elementary school classes with a high number of victim nominations were chosen among the 48 classes taking part in a larger study. The pupils from selected classes were interviewed in small groups. The interviews were tape-recorded, transcribed and analyzed using the discourse analytical methodology described by Potter and Wetherell [1987]. Various recurrently used systems of terms (e.g., interpretative repertoires) were found. The results suggest that bullying can be construed as unproblematic and justified among children. For example, the ‘interpretative repertoire of underestimation’ constructs bullying as a game or some other harmless action, the ‘odd student repertoire’ describes the victim as a negatively deviant student who cannot behave as he/she should and the ‘interpretative repertoire of deserving’ constructs meaningful reasons for hostility towards the victim. These and other interpretative repertoires are described and discussed.