The main objective of this study was to investigate how Iranian EFL learners used their literacy practices and multimodal resources to mediate interpretation and representation of an advertisement text and construct their understanding of it. Fifteen female adolescents at an intermediate level of proficiency read the "مبلمان برلیان" (“Brelian Furniture”) advertisement text and re-created their understandings in pictures and sentences. The data was analyzed based on Kress and Van Leeuwen’s (1996, 2001) theory of social semiotics. The findings suggest that students situated the meanings of the advertisement texts in specific contexts that reflected their own social and cultural experiences. Furthermore, the students demonstrated that the use of multimodal resources had the potential to enhance language and literacy learning in a way that was transformative and was affected by their identities. In addition, the use of multimodal/multiliteracies pedagogy permitted the students to enter into text composition from different paths. Finally, multimodal/multiliteracies pedagogy could foster critical literacy practices by offering EFL students the opportunities to create new identities and challenge discursive practices that marginalize them. The implications of the findings are also discussed.