Craft set:Rainbow Loom

Rainbow Loom captured four coveted Toy of the Year (TOTY) awards in 2014 including Activity Toy of the Year, Girl Toy of the Year, Specialty Toy of the Year, and overall Toy of the Year. Each year since 2000, Toy Industry Association officials have honored the best new toys on the market with the TOTY award. New toys competed in 13 toy categories: activity toy, boy toy, e-connected toy, educational toy, game, girl toy, infant or toddler toy, innovative toy, outdoor toy, preschool toy, property of the year, and specialty toy. The biggest honor, Toy of the Year, went to the best toy among all the winners for the various categories. Criteria for awarding TOTYs included overall excellence in design, play value, creativity, or originality; application of new technology and adherence to safety standards; and creative execution of artwork, product/package design, and promotional strategy. Toy industry officials announced the TOTY winners just prior to the grand opening of the annual 2014 ToyFair trade show in New York City.