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 film has many plot points that are notably similar to Toy Story, which was released 9 years later.

Originally introduced by Kermit the Frog, it was released on VHS format in 1993. In 2008, HIT Entertainment (distributed by Lionsgate) released the special on DVD, but edited out Kermit's opening introduction due to legal issues with Disney. When it was released on Amazon Prime, Kermit's scenes were reinstated.

The film later inspired a spin-off television series titled Secret Life of Toys.