Because children who are bullied by their peers are at risk for a variety of psychosocial challenges, it is critical to better understand the nature and dynamics of peer victimization. This paper defines peer victimization, examines forms of victimization, classifies types of victims, and proposes a model to better understand the dynamic interplay among the variables that serve to develop and maintain peer victimization. Findings from this review highlight the cyclical nature of this problem and the prominent role of peers, parents, and school staff in victimization. (Contains 1 figure.)