The Christmas Toy is a 1986 television film directed by Eric Till and produced by The Jim Henson Company, featuring Jim Henson's Muppets, including Rugby the Tiger who remembers how he was the Christmas Toy last year, and thinks he is going to be unwrapped again this year. The film, which originally aired on December 6, 1986, on ABC, was sponsored by Kraft Foods.

The Jim Henson Company is an American entertainment company located in Los Angeles, California. The company is known for its innovations in the field of puppetry, particularly through the creation of Kermit the Frog and the Muppets characters.