بسم الله الرحمن الرحيم
The selling and buying of toys is lawful and the income is also halal. However, one should avoid buying or selling the doll of boys as well as toys having pictures. It is makrooh to adopt this business as a profession, but the income derived from this shall be halal. (Jawahir al-Fiqh: 7/263-264, Tasvir Ke Sharai Ahkam, pub. Maktaba Darul Uloom Karachi)
Allah knows Best!
Darul Uloom Deoband
This answer was collected from the official ifta website of Darul Uloom Deoband in India.