A toy system having a folding kite projectile and a launcher that launches the kite projectile into flight. The kite projectile is launched in a folded configuration. Once in flight, the kite projectile expands into an open configuration. The kite is biased into its open configuration by an internal spring bias. The kite projectile is manually manipulated into its folded configuration prior to launching. The transformation of the kite projectile its folded configuration to its open configuration is delayed by an internal deployment control that opposes the spring bias and delays movement of kite projectile components that expand after launch. In this manner, the kite projectile cn fly in its folded condition for a period before it opens. This maximizes the distance the kite projectile travels by the force of the launcher.