The invention is directed to a sprinkler toy and a method for producing a geyser-like burst of liquid supplied by a source of pressurized liquid. The sprinkler toy may include a reservoir in fluid communication with the pressurized liquid source, wherein the volume of the reservoir may increase as the liquid is supplied to the reservoir by the pressurized liquid source. The sprinkler toy may further include a valve in fluid communication with the reservoir and operatively coupled to the reservoir, wherein the valve may be moveable between a closed position and an open position, wherein the increase of the volume of the reservoir from a first volume to a second volume may cause the valve to move from the closed position to the open position, and wherein the pressure within the reservoir when the valve moves to the open position may cause a geyser-like burst of liquid stored in the reservoir to discharge through the valve. In alternate embodiments, the sprinkler toy may further include nozzles in fluid communication with the pressurized water source and providing a constant discharge of liquid, and a housing having moving components that move in response to the increase in volume of the reservoir.