On Saturday, we had a picnic in the woods.
You can't see the wood for the trees, mom!
Little Red Riding Hood was walking through the forest when she came upon a dead wolf. Then she went on her way and had a lovely visit with her grandmother.
The kanji and the word are exactly the same. That means they share meanings as well.
The reading is the kun'yomi reading, but that's the reading you learned with the kanji so you should be able to read this one too.