Abstraction and cognitive flexibility were assessed in 197 preschool children at 2, 3, 4, and 5 years of age using the Flexible Item Selection Task, a task adapted from the Visual-Verbal Test (Feldman & Drasgow, 1951). On this new inductive task, children were shown a set of 3 cards and required to select 2 cards that matched each other on 1 dimension (Selection 1) and then to select a different pair of cards that matched each other on another dimension (Selection 2). Thus, 1 of the 3 cards always had to be selected twice according to different dimensions. Two-year-olds failed to understand basic task requirements as assessed by a criterial measure. Three-year-olds did more poorly on Selection 1 than 4- and 5-year-olds (who performed near ceiling), suggesting that 3-year-olds had difficulty with the abstraction component of the task. Four-year-olds did worse than 5-year-olds on Selection 2, suggesting that they had difficulty with the cognitive flexibility component (i.e., difficulty selecting the same card on more than 1 dimension). Results are discussed in terms of the development of executive function.