The hypothesis in this paper is whether one can look at children's play in psychoanalysis as a work in the preconscious. The play, as the dream, has a latent and a manifest content. The latent content, which the child is not consciously aware of, is disguised. The disguise ensures that the unconscious content is given a form that makes it acceptable to pass to the consciousness. The dynamic between the unconscious, the preconscious and the conscious is described, as well as the differences in how they operate. The child's gratification of his play is looked upon as a result of an unconscious understanding of his own play. A short vignette is given and discussed in light of the theory presented.