In this paper, we start exploring the affective and ethical dimension of what De Jaegher and Di Paolo (Phenomenology and the Cognitive Sciences, 6:485–507, 2007) have called "participatory sense-making'. In the first part, we distinguish various ways in which we are, and feel, affectively inter-connected in interpersonal encounters. In the second part, we discuss the ethical character of this affective inter-connectedness, as well as the implications that taking an "inter-(en)active approach' has for ethical theory itself.