The international society is an array of human-led institutions, bound together mostly through a web of purposeful social relations. People-to-people exchanges (P2PEs) are a deliberate process to construct that web of relations, formed through a range of activities and engagements, involving people and groups of interests that are often driven by interstate relations. Narratives about such people-to-people exchanges are becoming more frequent from both Western and Eastern perspectives. However, deviating understandings also exist in the academia, necessitating an effort to bridge this conceptual gap, as the background of P2PE narratives has not yet been rigorously debated from an academic point of view. Using a theoretical-inductive perspective and discourse analysis approach, this chapter asks the question: How do we understand people-to-people exchanges? We put forward a model of analysis in the contexts of international relations and the theory of constructivism. We further envisage the function of people-to-people exchanges through the three perspectives of state-to-state, corporation-to-corporation, and individual-to-individual exchanges, particularly in terms of the frames, instruments, and characteristics of the exchanges.