Abstract: A toy knife for exercise and entertainment purposes. The toy knife includes a handle portion. The handle portion has a first end, a second end and a peripheral wall extending therebetween. The handle portion has a lumen therein. The first end of the handle portion has an opening therein extending into the lumen. The handle portion comprises a resiliently elastic material. A covering member covers the opening in the first end of the handle portion. A blade portion is elongate and has a distal end, a proximal end, a first edge and a second edge. The distal end is integrally coupled to the second end of the handle portion. The blade portion has a bore extending into the distal end. At least one opening extends from the first edge to the bore. The bore is fluidly coupled to the lumen.