Mathematical modeling is a useful pedagogy in mathematics education, but preservice teachers (PSTs) conceptualization of the teaching and learning of modeling practices is an ongoing concern. This research study examined 31 elementary and middle grades PSTs’ conceptualization of mathematical modeling and their experiences with such modeling. The study participants were recruited from two, four-year university mathematics methods courses located in northeastern and midwestern United States. Data for this study was collected through a questionnaire and analyzed using qualitative and quantitative methods. Results indicated that most of the PSTs had little understanding of the intersection of mathematical modeling, and the teaching and learning of mathematics. As such, many perceived mathematical modeling as an exclusive action reserved for teachers. Additionally, the results revealed that most participants had minimal, if any, experience with mathematical modeling. These limited experiences portrayed mathematical modeling as a show and tell method or step-by-step explanation. Our results expand the inadequate research into elementary and middle grades PSTs’ knowledge of and experiences in mathematical modeling and warrant the exigency for the inclusion of extensive mathematical modeling practices into methods and content courses for PSTs. The directions for future research and implications for researchers and teacher education programs are also discussed.