Well I just learned something new today. People have been giving me
pet toys for three years and I didn't know what to do with them. My
kitty shaman has a wolf pet and wolves don't have inventory slots to
put things into. So I just tried "giving" my pet the toy this time.
Surprise! Surprise! So that's how you do it. G.

I've also figured out why you only give a temporary pet temporary
toys. Fortunately I did that before I gave it something really
expensive. G. Pets don't give their toys back.

Edward Fox