In this study, the authors report the results of a two-year ethnography study of a teaching practicum in Brazil based on the coteaching | cogenerative dialoguing model. This study shows that the practicum does not have to be a mere induction experience, but that it also may be the transformative locus for (a) the practicum participants (new teachers, school teachers, teacher educator, and students) and (b) school and university/school relationships, and (c) of the practicum activity itself.