We picked this book up in Colorado while we were up there a couple of weeks ago. I read this as a kid and saw the movie, and remembered really enjoying it. So I read Danya the first few pages and asked her if she'd like to keep reading it.
I choose a new book to read aloud to the girls every so often. So far we've read some Junie B. Jones (which I've decided not to continue reading), some Ramona books, one of the Magic Treehouse books, the Narnia series, and a few others. Next I plan to read James and the Giant Peach to them. The girls especially like it when I read to them in the car.
Today they didn't want me to stop reading The Phantom Tollbooth so we took it with us into the doctor's office and I read to them while I sat on the exam table waiting for my OB to come in for my six week post partum checkup.
I like this book because it's funny, teaches the girls alot of new vocabulary in a fun way, and emphasizes numbers and words and paying attention. I think ages 5 and up can probably understand the book if you read it aloud and are willing to stop and answer questions along the way. I personally like doing different silly voices for each of the characters. Talking like a bee was especially good!