A flying toy (10) includes a planar body defining an outer edge (16). A recess (18) extends inwardly from die outer edge and includes an undercut section (22). The body defines a hook section (24) adjacent the undercut section of the recess, and a finger engagement section (28) opposite the hook section that defines a pair of wings (32, 34). The wings are resilient, and include outer end areas that can be spread apart. The recess is configured to receive the tip of a user's finger. When the user's fingertip is positioned within the recess, the hook section engages one side of the user's finger and the finger engagement section engages an opposite side of the user's finger. The wings spread apart so as to stabilize the body on the user's finger. The user flicks his or her finger to dislodges the flying toy from the user's fingertip, and the flying toy is then propelled through the air.