Abstract: The present invention is directed to a liquid jet propelled rocket launcher and rocket. More specifically, it is directed to a toy which propels a rocket in a generally upward direction by a liquid-gas propulsion combination. Further, the present invention utilizes a rocket with a liquid reservoir, and in one embodiment an air pump supplies pressurized air into the rocket which has been previously charged with water while in its launch position, and the rocket is subsequently launched by a manually operated trigger mechanism. In another embodiment dry ice is introduced into the rocket's water containing reservoir and is thereby charged with gaseous carbon dioxide as the dry ice sublimates. In a third embodiment water and dry ice are charged into a container from whence the water and pressurized carbon dioxide is flowed through a conduit to charge a rocket.