A foldable toy which can be selectively arranged into a plurality of desired shapes is disclosed as well as an associated game. The foldable toy includes a plurality of primary links, a plurality of joints connecting the primary links together, and a plurality of secondary links having first ends secured to the joints and having opposite free ends. The joints permit the primary and secondary links to be rotated about the joints through 360.degree. in parallel planes in order to form different desired shapes. The foldable toy can advantageously form a virtually unlimited number of different shapes including, for example, each of the letters A through Z of the English-language alphabet, each of the numerals 0-9, and a plurality of common geometric shapes such as a square, triangle, rectangle, star, diamond, and octagon. The foldable toy can also be formed into other amusing shapes such as animals, rocket ships, buildings, etc. and numerous other shapes that a child can imagine. The foldable toy can also be used in combination with a game including a game board having a pathway displaying a number of different shapes. The game is played by having the players move game pieces along the pathway and making different shapes with the foldable toy when their game piece lands on the different shapes displayed on the pathway.