I have a hard time with that question. When I was a kid, at least as I remember it, toys took a back seat to books. I curled up with books much more often than I played with toys. And my most indelible memories of playing with toys are playing with my older brother's stuff. Much like my little girl just bounces into her brother's room and joins in with whatever he's doing, whenever she's allowed, I wanted to glom onto Dwayne's playtime.
So my favorite toy ever was a Hot Wheels car. Rocket Bye Baby was the model name; it was a futuristic, low-slung affair with curvy lines, a bubble-topped passenger compartment, and a huge jet nacelle on top. In my eyes, Rocket was the king of the Hot Wheels village, always leading the pack and saving the day.
Maybe my parents remember the toys I played with better than I do. Or maybe you remember your best toy ever with more clarity and fondness. I'd love to hear about it in the comments!