How do I access a taxonomy term's field(s)?
If you are going to be accessing the content of what drupal call entities (data objects, like nodes, users, taxonomies etc), you might considder using the entity module. It adds some nice helper functions. What Nikit writes is not possible, you would do something like this:

$term_id_1 = $node-&gt;field_term['und'][0]['tid'];
$term_id_2 = $node-&gt;field_term['und'][1]['tid'];


Then you would have to load the terms etc. Instead with the entity module you can do.

$images = array();

$node_wrapper = entity_metadata_wrapper('node', $node);
foreach ($node_wrapper-&gt;field_term as $term_wrapper) {
  $images[] = $term_wrapper-&gt;field_image-&gt;value();
}


$images will now be an array with the image field object that holds info like uri, fid etc.