Using this storybook with very young learners is great fun and very rewarding when they pick up on the rhymes behind the names of the characters.
Here are some young Spanish children having fun with this book – I don’t believe they can read it really !!
Attempts to find any other resources on-line were thwarted by the somewhat dodgy results in a search engine search – not surprising when you think about the title, really …
There is a whole chapter devoted to this story book in the following book :
Découvrir l’anglais avec des albums de jeunesse
by Catherine Choquet and Armelle Thieffry. Published by Canopé, 2013.
Personally I would take a more phonology-based approach to the storybook, but each to his own, I guess.
Some resources to look into :
Slightly off subject but some great ideas here : http://www.nommonster.co.uk/2013/05/aliens-love-underpants-home-made-story.html