Abstract: A flying toy includes an aerodynamic disc having a centrally located opening extending therethrough. A plurality of wings are mounted on the disc adjacent the opening and the wings extend upwardly and outwardly from the opening to a point beyond the periphery of the disc. Each of the wings has a straight edge portion and a flat portion extending downwardly from the edge portion toward the disc. The wings are mounted on the disc in such a manner that the disc may be launched with an imparted rotational motion resulting in the straight edge portions being the leading edge of the wing and the flat portions being the trailing edge of the wings so that horizontal launching of the disc with an imparted rotation causes the disc to rise, hover and return to the launching point.