Six brief, whimsical stories with the air of extemporaneous bedtime tales told by a gifted parent, from the creators of Each Peach Pear Plum; each story is a logical (but zany) extension of a common phrase. ""The Clothes Horse"" has been made by a magician, out of clothes; but even after all the clothes are appropriated, one by one, he retains a tenuous existence. ""Life Savings"" are bits of various ages stored up by a 70-year-old woman, resulting in curious behavior when she gets them out again. In ""The Jack Pot,"" a beleaguered giant catches troublesome Jacks--till they form a football team and bother him more than ever. Then there are ""No Man's Land,"" ""The Night Train,"" and ""God Knows""--God's answer to his own children when they ask him what else people invented (after spaceships and the Beatles) and what they did next. Janet Ahlberg's deft, carefully detailed illustrations add to the fun. Cozy, comic, wry and wise, these rather British morsels may not be to the taste of every American child, but they're certainly worth a try. The avuncular voice suggests a read-aloud, but the stories' brevity will also make them attractive for independent reading.