To provide a changing picture toy letting a player enjoy looking at a picture change by changing the side of a picture with outlines of an object on a transparent sheet for the side with colors and/or seals or phonographs of the object on a slide base board added to the outlines of the object.

In this changing picture toy, a slide member 1 is made to slide relative to a case member 2. Therefore, the side of a picture with outlines 4, 5 of an object on a transparent sheet 12 and the side with colors 401-406 and/or seals or photographs of the object on a slide base board 10 added to the outlines 4, 5 on the transparent sheet are changed, and a player can enjoy looking at the change.