The present invention provides a transformable toy with which the user can enjoy the transforming process of the figure of the toy much more than ever. A movable toy includes an assembly composed of a plurality of components. The assembly is mounted onto an upper body of a toy doll to constitute an exterior 30 for the upper body of a toy robot. The assembly includes a first assembly constituent section, a second assembly constituent section, and a third assembly constituent section. The first assembly constituent section (13A, 14, 15) is disposed in a front side of the toy doll. The second assembly constituent section (11, 13B, 17) is connected to the first assembly constituent section and disposed in a back side of the toy doll. A handle (16A, 16B) composing the third assembly constituent section connects the first and second assembly constituent sections. The first, second and third assembly constituent sections are assembled together in an annular shape to constitute the exterior 30.