There is now a wealth of research on obesity both from biomedical and socially critical perspectives. However, less research has focused on the lived experiences of young children and particularly those who are perceived as 'sedentary'. This paper critically examines the issue of obesity as related to children's experiences of physical (in)activity, via a focus on the circulation of socio-cultural and economic discourses in the context of Spain. We report on data obtained from interviews with 13 children identified as 'sedentary'. Data were analysed using thematic content analysis and based on the analysis a collective story was constructed to represent and give voice to the children's experiences. The collective story sketches a day in the life of 'Diego' to indirectly reveal the limitations associated with assuming that sport and school physical education (PE) are pragmatic 'answers' to the presumed issue of childhood obesity. In our analysis we draw on Foucauldian notions of bio-power and governmentality to highlight how neoliberal and capitalist logics shape and constrain children's experiences and opportunities. By presenting a narrative that delves into the various domains of these children's lives, their families, friends, peers and lifestyles, we argue there is still a need to reformulate and rethink how we understand childhood wellbeing and the role of PE. We conclude by suggesting that the conflation of PE with sport and health can subtly undermine some children's views of self.