With Mirage resuming publishing in 2001 with the fourth volume of Teenage Mutant Ninja Turtles Peter Laird decided to resurrect Tales of the Teenage Mutant Ninja Turtles to feature stories that don't fit into the storylines of the current book. The book was initially published bi-monthly but in January 2005 the comic began to published monthly.
Like it's predecessor the second volume of the comic is printed in black and white and contains a frontpiece with a character reciting a monologue about the following story usually ending with a variation of the line "let me tell you a story". Unlike the original book it is written and drawn by a revolving door of guest writers but all stories take place within the Mirage canon. While usually single issue stories some multi-part with some of the more popular ones receiving follow ups or "sequels" in later issues.
With the decision to mark the passage between the canonical second TMNT volume and volume four in real time it meant that there was a seven year gap in which stories of the turtles could now be told. The majority of the tales in the book take place during this gap in time. A few times adventures referenced or hinted the current main book are told in this book including the beginnings of the rivalry between Leonardo and Cha Ocho and Shadow's encounter with Werewolves that led her to living in Northampton.
Other stories take place in other definitive time periods which expand upon classic stories such as the third and fourth issues being set straight after the " Return to New York" and issue #46 taking place during "City at War" and the popular #36 dealing with the repercussions of "City at War". In addition there have been several stories that take place prior to TMNT Vol 1 #, a few that take place in the present time and some set in possible futures and alternate realities.