To provide a toy which is moved above and below the water surface and inflated into various shaped forms for play.

The toy comprises: a bag-like cloth body 2 which is made of a sheet material in the form of cloth which is air-permeable when it is dry and, on the other hand, whose air permeability is inhibited when it is wet and in which a shaped space B inflated by compressed air A blown from a narrowed opening 2a can be formed; a tubular body 1 in which an air compression space C is formed, whose lower end 1b includes a wide-open opening 5 and whose upper end 1a includes a ventilation hole 4; and a connecting means 3 which can hermetically connect the tubular body 1 and the bag-like cloth body 2 by making the ventilation hole 4 of the tubular body 1 communicate with the opening 2a of the bag-like cloth body 2. The tubular body 1 which is integrally combined with the bag-like cloth body 2 by the connecting means 3 is moved above and below the water surface and the air in the air compression space C in the tubular body 1 is pumped into the shaped space B of the bag-like cloth body 2. The bag-like cloth body 2 is inflated into the shaped form for play.