Nope, not a toy -- and I feel pretty strongly as it being marketed as such.
I'm of the school of thought that compares the ouija board to leaving your front door unlocked -- you may invite something in that you might not want.
In my early teens, I bought one of the things because I thought it might be fun, and I wanted to see if it was really the pulse in our fingertips moving it, or something more mysterious. I think I found my answer.
One incident involved two other girls, one I still know well. We were goofing around, asking questions that kids do about which boys liked us, etc...After a while, the atmosphere in the room seemed to change, the girls were across from me and looked up suddenly at me and started screaming. They claimed to have seen a girl directly behind me that looked a lot like me, but had clothing from the 1800's. I never saw anything, but like I said, the change in the atmosphere of the room I well remember and this is twenty years later. The woman that I still know who was there that day, sticks to the story all these years later, but doesn't like to talk about it.
This other incident, I never connected until fairly recently. Around that same time, I was sick, and staying home from school. My grandmother, who lived with us, had a bedroom near the front of the house, and mine was at the back. To be able to hear me during the day, my mother had me resting in my grandmother's room during the day. I had taken the ouija board in there and was goofing around with it by myself. The board started acting oddly, at first saying it was the spirit of a young man who had died in a car wreck in the 1950's; then, things took a different turn and the board started spelling out curse words. A little unnerved, I slid it under my grandmother's bed, thinking I would just get it away from me.
Nothing happened until a week or so later -- we were awakened by my grandmother screaming, having what we assumed was a night terror. At the time, she was in her late 70's, and was as sharp as a tack. She was a believer in the paranormal, but not one to be overly imaginative. Anyway, she was wide awake when my parents and I showed up in her room, claiming that a man had been at the foot of her bed. He had long, scraggly hair and a beard and was very angry. She insisted we look for a prowler, which of course, we did not find. At the time, we all chalked it up to being a bad dream, but in later years, I suspect it might have somehow been connected to the ouija board.
I don't remember ever playing with it after that incident with the curse words. It survived a couple of moves, but around the time I finished college, I was doing some major cleaning out of all my childhood belongings and came across it. Needless to say, it went in the garbage.
I've heard numerous stories of similar things, and I'm sure there are some references to other posts about it in the archives section of SK. As a mother, I've got to say, if my child comes to me around that age and requests buying one, I'll be turning her down and explaining what happened to me years ago. I wouldn't have one in my house, and I know I wouldn't have it in the hands of a kid -- or anyone else for that matter.
There are a lot of folks who disagree and claim that you have to "know what you are doing". I respect their opinions, but I don't agree. In the first place, I'm always skeptical about people who call themselves "experts" at anything; secondly, given the nature of the board, you can't pick and choose what spirit might come your way. Anything could come through -- and does.