The 1920s saw the introduction of Raggedy Ann Doll, Teddy Bear, Crayola Crayons, and merely advancements of existing popular dolls, toys and drawing materials.
Pop Culture and technology exploded beyond the scope of everything anyyone else had ever seen, making it possible for anyone in the country to watch the same stars in film or listen to the same show on the radio or drive the same vehicle down the road.
The toys reflected this boom and for example die cast metal cars and the first mass produced model airplanes for young boys were spreading quickly, while the Raggedy Ann doll was introduced (1918) and became immensely popular before being surpassed by Madame Alexander dolls (1929). And let's not forget the novelty items that seem to stick around longer than anything else, such as the Yo-yo (also introduced in 1929), and mini-golf which first struck the tiny green lawns between shopping structures in 1926.
Popular toys in the 1920s were:
Pogo Sticks, Magic Slate and Duncan Yo-Yo.
What's it worth? Take a look at this 1920 price guide: sold listings for a value indication.