The Fool - this is the card which represents any person about to embark on a new adventure. And it represents the spiritual directive - Go forth and make known the unknown.
When reading the Major Arcana as "the Book of Life" the Fool is the virginal soul seeking rebirth. Virginal not necessarily in that it has never been born before, but in that it has drunk from the waters of forgetfullness, and has no memory of past lives to hamper it in this lifetime.
In a spread The fool may indicate that a would-be child spirit is near the questioner, seeking a chance for rebirth. Or, more likely, that the querent will soon have the opportunity to embark on a new adventure in life, the opportunity is becoming manifest.
But why does this card say these things?
First, he is striding down a mountain out of the lofty heights. This means descent from an etheric place into a more material state. He is at the cliff's edge. This referrs to the unpleasant falling sensation that often accompanies a return to the body after astral travel. His yellow boots say he is immature. The white rose and undergarments say he has been cleansed of his memory of his past life, or possibly he has never been incarnate before. The rod, or stave he carries is of the element of fire and represents the kundalini, which is the life force - notice how it seems finite, but when you look closer it might go on and on; this is because, I am told, if you keep making known the unknown you don't fall into stagnation and therefore there is no reason for God to shorten your life. The dog and the sack represent two aspects of the soul; the dog represents the guide (before we are born we create a destiny for our selves, which is suposed to help us resolve our imbalances, and this destiny is carried in the soul), and the sack represents the recorder of this life's events. Like a beechcomber's bag we get to fill it up with grand memories(and likely some not so grand). His dress represents his mother's fruitful womb, rather like the caul and the afterbirth. The feather in his hat is the new brain he is comming into possession of, with his new body.
11 months ago