Rejection and victimization by peers are significant stressors in the lives of many teenagers; both are highly salient and associated with developing symptoms of depression and anxiety. Conversely, emotional maladjustment can result in even more rejection and victimization over time. Given that rejection or victimization and emotional maladjustment mutually influence each other over time, researchers have asked why this occurs and how events unfold in adolescents’ lives. In this article, I describe relational self‐system processes, including perceptions of peer relationships, sensitivity to rejection, attributions of cause, perceived control, and coping responses. I conclude with ideas for research and ways to apply the findings.