One of the most famous American toymakers, Fisher-Price has been part of children's play for almost seven decades. While Fisher-Price is still creating low-cost and durable playthings for infants and preschoolers, older Fisher-Price toys are now prized collectibles, coveted by the same owners—now adult toy aficianados—who once clutched them in crib and playpen. From Granny Doodle and Snoopy Snuffer in the 1930s, through the decades with Tick Tock Clock, Pull-a-Tune Xylophone, and Little People, to computer software for toddlers in the 1990s, the Fisher-Price name has long been in the forefront of imaginative and educational play for children.

The company was founded in 1931 in East Aurora, New York, by Herman G. Fisher, Irving Price, and Helen M. Schelle, who began with $5,000 and the idea of creating an innovative line of toys for very young children. Though they managed to build their factory and began...