I think a lot of the responses on this thread are poorly thought out knee-jerk reactions. People are fixating on a negative connotation of the word "toy" and not really considering the question.
"Video games are entertainment, and entertainment is not the same thing as toys." Yes, they are. Toys are meant to entertain and amuse, and so is entertainment (it's in the word).
"Video games are more akin to books and film." True, but books and film are not interactive. Toys are. Toys are used to create and tell their own stories. Much like video games.
"I wouldn't give a 4 year-old a video game." I wouldn't give a 4 year-old a Lego Technic set either. That doesn't make Technic something other than a toy, though.
Folks, we're past the point where we need to defend video games, okay? The U.S. Supreme Court ruled in our favor, and that sets a precedent that will be difficult for the bad guys to get around. Now's the time when we need to dedicate some real thought to what video games are and how the medium may progress. The first step is going to be acknowledging what video games are.
They are toys, and if you believe there is something shameful about playing with toys, there is something wrong with you.