I would use this book in a whole group setting that I, the teacher, will read to the entire class. I will test/assess the student knowledge of frequently use words and phrases. I would use this book in the grades K-2. The words are complex enough for that age and also it causes those student to think about what those words might mean.
I would use this in grade K-6 because it is so necessary for kids to feel like it is normal to be nervous for the first day class. This bool also allows those students who are not nervous understand where the "new" kids or the kids who are very shy feel. This would be something I would read on the first day of school