As much as I’ve wanted to write about Pan’s Labyrinth, it hasn’t happened, so you’ll have to wait until its DVD release for a proper essay. (I have lots of ideas, but the movie’s details have faded so much that anything I write would be either too vague or filled with errors. Even more than normal.)
For now, I’ll note that I was struck by something writer-director Guillermo del Toro said in an interview:
Question: “So often in fairy-tale analysis, there’s a tendency to read any story of a young girl as a psychosexual parable, but this film specifically doesn’t go that way.” Answer: “Not at all. I consciously avoided it, not out of prudishness — though I probably am prudish — but out of the same reason why I tried to avoid the myth of vampirism in Cronos through using the most completely unerotic window I could; I tried to approach it like an addiction. In Pan’s Labyrinth, I knew that the psychosexual angle was really tired; it felt very 1980s for me, and I felt this was a movie about a girl who was on the threshold of making a choice, where she could cease to be a girl, but it was not about sexual identity.”
Perhaps he should have told that to the movie’s designers and marketers. Take a look at these images and say with a straight face that they don’t bear a striking resemblance to female genitalia.

Box Office Power Rankings: September 26-28