I was enchanted by this story as a child, though I don't know whether my first exposure was the book or the movie with the enchanting music. I think much of my adoration for willow trees goes back to this classic. 
 So what is it that makes this work so wonderful? The most outstanding trait to me is that Grahame gives words to the instinctual cycle of nature. He describes hibernation, migration, a feral sense of smell and seasonal change - from the perspective of the animals! There is a sense of mystery and yielding to these passages. Awe of how God has created our world to function and peace in that we cannot/ should not/ don't need to fight it, but to yield to the rhythms He has established. 
 Of course, the raucous, foolish Toad gives color to the story, and there is a lot here for children to learn about what happens when we let our selfish impulses run wild. Toad is an exciting companion, but a horrible role model. And we are left to wonder if his reformation proclaimed at the end of the book has truly been accomplished. 
 Yet the loyalty among the friends, even with knowledge of their various faults, is worthy of imitation. And other characters, while flawed not quite as persistently as Toad, have more admirable character traits for our children to look up to. 
 A caution in reading Chapter 7 "The Piper at the Gates of Dawn" to young children. This chapter centers around the loss of a young animal and his father's longing for him. All the animals enter into the search, and we follow the efforts (which prove successful) of Mole and Ratty. I would recommend that parents read this chapter to themselves before sharing it with their children, and skip it all together for sensitive children. The themes of a child being lost, as well as the conditions in which he is found (rescued by a mystic being who pervades a peaceful aura) may, at worst, frighten, and at best, confuse, young minds. 
 Otherwise, this is a book that seems to bring me back to center. The run of the water of time, rushing peacefully by, while relationships and awe of creation take center stage. It is a joy to return again and again....