Biscuit by Alyssa Satin Capucilli and illustrated by Pat Schories is one of my favorite easy readers. It's also a favorite of my children, who own several different Biscuit stories including Biscuit Goes to School and Biscuit Visits the Pumpkin Patch. Even my 20 month old daughter, walks around carrying the book saying, "Bisuit, bisuit."
In the original, children can really relate to Biscuit as he wants another drink of water, wants a snack and wants a story. I go through a similar routine with my son every night, although he doesn't wind up curled up on my bedroom floor. Biscuit is a great book for beginning readers. It has repetitive text which will help young readers, but is an early to middle first grade reading level, due to some of the vocabulary. Although, it definitely could be used for earlier readers because it has strong picture support and is easy to memorize.