From The Collaborative International Dictionary of English v.0.48:
Toy \Toy\ (toi), n. [D. tuid tools, implements, stuff, trash, speeltuig playthings, toys; akin to G. zeug stuff, materials, MNG. ziuc, Icel. tygi gear; all ultimately from the root of E. tug, v. t.; cf. G. zeugen to beget, MHG. ziugen to beget, make ready, procure. See Tug, v. t.] [1913 Webster] 1. A plaything for children; a bawble. --Cowper. [1913 Webster]
2. A thing for amusement, but of no real value; an article of trade of little value; a trifle. [1913 Webster]
They exchange for knives, glasses, and such toys, great abundance of gold and pearl. --Abr. Abbot. [1913 Webster]
3. A wild fancy; an odd conceit; idle sport; folly; trifling opinion. [1913 Webster]
To fly about playing their wanton toys. --Spenser. [1913 Webster]
What if a toy take 'em in the heels now, and they all run away. --Beau. & Fl. [1913 Webster]
Nor light and idle toys my lines may vainly swell. --Drayton. [1913 Webster]
4. Amorous dalliance; play; sport; pastime. --Milton. [1913 Webster]
To dally thus with death is no fit toy. --Spenser. [1913 Webster]
5. An old story; a silly tale. --Shak. [1913 Webster]
6. [Probably the same word.] A headdress of linen or woolen, that hangs down over the shoulders, worn by old women of the lower classes; -- called also toy mutch. [Scot.] "Having, moreover, put on her clean toy, rokelay, and scarlet plaid." --Sir W. Scott. [1913 Webster]
From The Collaborative International Dictionary of English v.0.48:
Toy \Toy\, v. i. [imp. & p. p. toyed; p. pr. & vb. n. toying.] To dally amorously; to trifle; to play. [1913 Webster]
To toy, to wanton, dally, smile and jest. --Shak. [1913 Webster]
From The Collaborative International Dictionary of English v.0.48:
Toy \Toy\, v. t. To treat foolishly. [Obs.] --E. Dering (1576). [1913 Webster]