Using the 9 inverse femtobarn data sample collected with the CLEO II.V detector at the Cornell Electron Storage Ring, we have studied the resonant substructure of the Cabibbo suppressed decay D0 -> pi+ pi- pi0. We observe significant contributions from the rho- pi+, rho+ pi-, rho0 pi0, and non-resonant channels, and present preliminary results of the amplitudes, phases, and fit fractions for these sub-modes. No evidence for the sigma(500) or more massive rho resonances was found. We observe no CP violation, finding Acp = 0.01 +0.09 -0.07 +- 0.09.