Toy
late Middle English: of unknown origin. The word originally denoted a funny story or remark, later an antic or trick, or a frivolous entertainment. The verb dates from the early 16th century.
wiktionary
From Middle English toye(“amorous play, piece of fun or entertainment”), probably from Middle Dutch toy, tuyg(“tools, apparatus, utensil, ornament”) as in Dutch speel-tuig(“play-thing, toy”), from Old Dutch *tiug, from Proto-Germanic *teugą(“stuff, matter, device, gear, lever”, literally “that which is drawn or pulled”), from Proto-Germanic *teuhaną(“to lead, bring, pull”), from Proto-Indo-European *dewk-(“to pull, lead”). Cognate with German Spielzeug(“toy”), Danish legetøj(“play-thing, toy”). Related to tug, tow.
etymonline
toy (n.)
c. 1300, "amorous playing, sport," later "piece of fun or entertainment" (c. 1500), "thing of little value, trifle" (1520s), and "thing for a child to play with" (1580s). Of uncertain origin, and there may be more than one word here. Compare Middle Dutch toy, Dutch tuig "tools, apparatus; stuff, trash," in speeltuig "play-toy, plaything;" German Zeug "stuff, matter, tools," Spielzeug "plaything, toy;" Danish tøj, Swedish tyg "stuff, gear." Applied as an adjective to things of diminutive size, especially dogs, from 1806. Toy-boy is from 1981.
toy (v.)
"deal carelessly (with), trifle," 1520s, from toy (n.) in its older sense.
If he be merie and toy with any,
His wife will frowne, and words geve manye.
["Song of the Bachelor's Life," 16c.]
Related: Toyed; toying.