Abstract: A tethered flying toy includes a ring-like frame rotatable about an axis substantially perpendicular to the plane of the toy. The frame extends outwardly and upwardly from the plane of the toy away from the axis and has a downwardly extending skirt around the periphery thereof. The frame includes an inner circumferential edge defining an opening and the skirt includes an outer circumferential edge defining a border. The outer circumferential edge of the skirt extends in a plane parallel to but in upwardly offset relation from the plane of the inner circumferential edge. The frame also includes an S-shaped cross member interconnecting diametrically opposed portions of the frame. A tether line extends through an aperture formed in the cross member to a wrist strap which can be located around the arm of the thrower. An elastic band portion interconnects the wrist strap and the tether to provide elasticity for the tether during the flight of the toy.