An infant toy for drawing a colored picture, capable of displaying a colorful multi-color picture and favorable as an educational toy. The toy has a multi-cell structure containing many cells (16) between two substrates (12a, 12b), each cell being divided into a desired number of regions (4: 4a, 4b, 4c, 4d, ...). A dispersion (20) containing identically colored magnetic particles (18) a dispersant and a coloring agent constituting the background portion is sealed in each region in such a manner that neighboring regions will exhibit colors different from each other. When a magnetic pen (22) scans the surface of one substrate over different regions, the magnetic particles having different colors in respective regions are attracted onto the surface, thus displaying a colorful multi-color picture.