The invention provides a playing toy which comprises a channel and multiple sound production devices. The channel extends to form a specific shape and is provided with a walking surface; the sound production devices produce sounds through colliding or knocking and are arranged along the channel, so that the sound production devices are collided or knocked by users on the channel. According to the playing toy, children can achieve certain physical exercises when the children do sports such as running and jumping on the channel, and when the children do sports, the children knock or collide the sound production devices arranged along the channel to enable the sound production devices to produce euphonic sounds with different tones and melodies; the very high interestingness is achieved, a novel feeling can be brought to the children, the curiosity and exploring desire of the children to the outside world are stimulated, therefore, the children can obtain the physical exercises and intelligence development while the children play, and the children are delighted in teaching.