The purpose of this article is to "describe and illustrate an approach" that facilitates a study of power and governing processes in teachers' and students' interactive actions and dealings. This approach is inspired by Foucault's work on power and the research field emanating from the concept of governmentality. The approach is illustrated through an analysis of texts of teacher and student interactions derived from video-recorded physical education lessons conducted in Swedish nine-year compulsory schools. This analysis is used to demonstrate how governing processes appear in Physical Education practices, and the socialisation content of this governance. Here the term socialisation content refers to the direction of governance, which constitutes a discursive resource for the constitution of particular forms of subjectivity. (Contains 11 notes.)