These fables are solid goofiness.
They specialize in subversion, the toppling of established order, the overthrow of rules and order and all that is sacred. Jon Scieszka and Lane Smith are revolutionaries, if not nihilists, and they are really good at it. Fables are the target here, but they are only poked fun at, not disemboweled, which undercuts the team's typical cruel nimbleness (and they even get a little formulaic -- but only a little, and not painfully so).
But don't be surprised if you see readers filing their teeth into points after a session with this impious collection. The artwork is not a little sinister, passing strange and decidedly splendid in a dark sort of way, and Molly Leach's book design -- as much a signature of Scieszka and Smith's books as their words and pictures -- is outlandishly active and elegant.