The residents of the Island of Misfit Toys are characters from the Rankin/Bass television special Rudolph the Red-Nosed Reindeer.
A train with square wheels on his caboose
A water pistol that squirts jelly
A cowboy who rides an ostrich
A boat that can't stay afloat
An airplane that can't fly
A wind-up mouse in a set of nesting clown dolls