Abstract: A flying toy of the boomerang type having two airfoil arms extending horizontally from a center portion. Each arm carries at its outer end a horizontally disposed, annular-shaped stabilizer having a horizontally disposed outer periphery whose diameter is approximately twice the horizontal width of the arm at the juncture of the arm and the stabilizer, and having an inner periphery which is disposed in the same horizontal plane as the outer periphery, and which defines a center opening through the stabilizer. The stabilizer has a convex top annular surface and a concave bottom annular surface extending between the inner and outer peripheries. During flight, the stabilizers serve simultaneously as airfoils, airfoil arm stabilizers, and a gyroscope for the flying toy.