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 being last year's Christmas Toy and thinks that he will be unwrapped again this year. The film, which originally aired on December 6, 1986, on ABC, was sponsored by Kraft Foods.

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, with Kermit's opening introduction edited out due to legal issues with The Walt Disney Company, which had owned the rights to him since 2004. When the film was released on Amazon Prime, Kermit's scenes were restored. Many have noted the similarities between the film and Toy Story, which was released in 1995.

The film later inspired a spin-off television series, Secret Life of Toys (1994).