A glider toy has pivoting wings that may be locked in a retracted position prior to launch. Upon launching of the glider, the wings may be unlocked. During flight, the wings extend forward for an entertaining glide at the urging of one or more elastic members. A launcher includes an orientation-sensitive safety feature that limits the angles at which projectiles may be launched therefrom. The safety feature permits projectiles to be launched from the launcher only within approximately a generally upward, non-vertical angular range.