A water toy that ejects a stream of water under pressure and in one embodiment is particularly suited to serve as a water-sword toy and in another embodiment to serve as a pump-action water gun toy is disclosed. In both embodiments, the water toy includes a wide mouth reservoir that accepts ordinarily available ice cubes which cooperate with water so that chilled water is emitted, under pressure, which may have some soothing benefits, especially during hot summer conditions. The water-sword toy not only emits water upon contact of its tip by an object, but also has provisions for emitting water out of its tip without contacting any object. The pump-action water gun toy has provisions to provide for a straight or spread water trajectory so as to simulate a rifle-water toy or a shotgun-water toy.