The Collaborative International Dictionary of English v.0.48:

Toy \Toy\, v. i. [imp. & p. p. toyed; p. pr. & vb. n.
   toying.]
   To dally amorously; to trifle; to play.
   [1913 Webster]

         To toy, to wanton, dally, smile and jest. --Shak.
   [1913 Webster]

WordNet (r) 3.0 (2006):

toying
    n 1: playful behavior intended to arouse sexual interest [syn:
         flirt, flirting, flirtation, coquetry, dalliance,
         toying]