From The Movie Snob:

Hoodwinked (D+). This new animated feature got a good review in the local paper, so I checked it out. The premise seemed clever: the story of Little Red Riding Hood gets told four times, once by each of the four protagonists (Red, Granny, Wolf, and the Woodsman). Some amusement derives from the wildly different perspectives the characters have of the exact same events. But the device gets a little tiresome after about the second retelling, and the whole thing is embedded in a larger but rather lame story about a recipe-stealing bandit who is at large in the Big Woods. When you get bored during an 83-minute movie, there is definitely a problem. The friend I saw it with thought it was better than I did, and hypothetisized that little kids would like it, but I am unconvinced. It's a waste of time.