PLAs lower melting point is the issue. I only print PLA, mainly because it's less toxic, but I dare not print a part that might end up in a hot car, near a heating source or outside.
And if you print a toy for your kids it's gonna end up in their mouth at some point...
[1] http://www.sciencedirect.com/science/article/pii/02786915940...
As for toys, I don't see a big problem. Even if you eat PLA it won't really do much harm. It's safer than the ABS most toys are made from.