A toy water gun of the type for ejecting fluid therefrom. The toy water gun may include a housing having a longitudinal axis and a reservoir attached to the housing for holding fluid. A holding area may be included which is selectively in fluid communication with the reservoir. A pump may be provided for generating pressure differential across a pair of one-way valves to move fluid from the reservoir to the holding area and from the holding area to at least one nozzle. The at least one nozzle may rotate as the pump is being actuated by a user. A rotating bezel may be provided to vary the angle of the nozzle relative to the longitudinal axis of the toy water gun.