Not a toy
I don't think it is a toy. It's like a bunch of the Mario Brothers stuff, where some people assume it's for kids, but really it's for adults that are collecting Mario stuff. Same thing here I guess.
That said, who knows why it doesn't use a pair button like any headset etc. does. And why it would not cut the mic until the handset is off hook.
Biting the hand that feeds IT
