This study investigated perceptions that children aged 6–10 years (n = 83) have of what it means to be physically active. Ideographic research was conducted utilising drawings and interviews to understand values that are placed on participating in physical activity (PA). The article questions the idea that whilst it may be commonly accepted by academics that there is a need to be active for health, little research has considered what this may actually mean for the child. Drawing on Bourdieu, the article utilises key concepts within the analysis of ‘capital' to frame an understanding of how children experience PA. Findings suggest that central to children's experiences is the place of social interaction and reciprocation. The article investigated the production and transference of forms of capital: physical, cultural and social. The potential for such concepts to be exploited by schools is discussed with reference to physical education and opportunities offered during free play.