Your draggable div contain only one img element. So for this below is right
ui.draggable.find("img").attr("alt")
OR
ui.draggable.children("img").attr("alt")
But if your draggable contain more img element like below
<div class="draggable">
<img src="test.png" alt="3">
<img src="test.png" alt="4">
</div>
then you can't use upper code to find alt value of second img element. So you can try this:
ui.draggable.find("img:last-child").attr("alt")
OR
ui.draggable.children("img:last-child").attr("alt")
This example shows a general idea that how you can find actual object within parent object.
You can use classes to differentiate your child object. That is easy and fun. i.e.
<div class="draggable">
<img class='first' src="test.png" alt="3">
<img class='second' src="test.png" alt="4">
</div>
You can do this as below :
ui.draggable.find(".first").attr("alt")
and more specific as:
ui.draggable.find("img.first").attr("alt")
You can use find or children as above code. For more visit Children http://api.jquery.com/children/ and Find http://api.jquery.com/find/.