A toy vehicle and a launcher includes an integral latch mechanism for holding the vehicle in a biased position and an actuating member for selectively releasing the latch. The vehicle includes an elongated tube of substantially dense, rigid material defining a frame to which wheels may be secured. The tube is encased within a soft, resilient, open cell foam material such as polyurethane foam which has been molded in the form of a vehicle body. A resilient, biasing member is mounted within the tube and is held in a compressed state by the latch. The launching member includes connection means to permit the connection of a series of launching members.