The storage and mobilization of lipid are central functions of fat cells. Recent proteomic studies suggest that intracellular triglyceride storage droplets are dynamic organelles, and that the signaling events underlying lipid mobilization alter protein trafficking to a specialized subset of these droplets. Here we review recent research that has identified new players in hormone-stimulated lipolysis, and the role of perilipin A, a lipid droplet scaffold protein, in organizing and directing lipolytic protein trafficking.