I'm not sure specifically which 'the little old lady story' you mean. There could be many stories about little old ladies. It might be about her daily life, her memories, or some kind of adventure she had.
One possible moral could be about making the best of what you have. Despite living in a shoe and having a large number of children, the old lady manages as best she can.
The 'little old lady in a shoe' story is quite interesting. In this story, we have an old lady who is in a rather unique living situation - a shoe. She has many children, which poses a great challenge for her. This story has been passed down through generations, often told to children. It can be seen as a story about family, poverty, and making the best of a difficult situation. The image of the old lady in the shoe is very vivid and has become an iconic part of children's literature. It also might have been used in the past to teach children about different family structures and the importance of family unity even in tough times.
The story is about an old lady who starts by swallowing a fly and then keeps swallowing other animals to try and catch the previous one. It's a funny and repetitive tale.