Ethological theory standardly attributes representational content to animal signals. In this article I first assess whether Ruth Millikan’s teleosemantic theory accounts for the content of animal signals. I conclude that it does not, because many signals do not exhibit the required sort of cooperation between signal‐producing and signal‐consuming devices. It is then argued that Kim Sterelny’s proposal, while not requiring cooperation, sometimes yields the wrong content. Finally, I outline an alternative view, according to which consumers alone are responsible for conferring representational status and determining content. I suggest that consumer‐based teleosemantics reconstruct the content of both cooperative and noncooperative signals and explain how a given trait can mean different things to different consumers.