Make sure to seek medical attention for your child right away, even if you think it is only a minor injury. It could end up being much more serious than what it appears to be.
Put the toy in a safe place where it cannot be accessed by any other children. Do not throw the toy away as this will be evidence in any product liability case. Collect all receipts, credit card bill, product packaging, and any other information associated with the purchase of the toy. Then contact a defective product attorney.