Panel 1: Liz ignores Mike's advice not to throw her Super-Teddy at someone she can't outrun by throwing it at Elly.
Panel 2: When cornered, Liz does what Liz does and tells Elly that Mike told her to do it.
Panel 3: Elly is aghast and tells him that he shouldn't be teaching her things like that because he's old enough to know better and thus should be setting a good example.
Panel 4: Liz isn't old enough to know better so she tells her gobsmacked mother that she doesn't want a good example....she wants Mike!
Summary: If we ever wanted to explain to people whence came Elly's hand-wringing dismay when faced with Liz wanting to fit in with the crowd, we would do well to point them to this. Reason: it's all about Elly's wanting Liz to follow a good example (her own) and exclude other examples which are (by definition) bad. She might dress it up by saying "Do what you want to do and not what other people tell you to do" but the real message is "What you should want to do is pay back your parents for making the sacrifice of having to feed, clothe and house you without getting anything in return for it."