Fisher Price and Mattel are both offering coupons for a variety of toys right now through the coupon provider Websaver.ca. Head on over here and sign up for a free account and you can select coupons to be mailed to you, or to print off and use. While you're there, you may find some household coupons you're interest in as well.
Hasbro has partnered up with Kellogg's for the holidays and is offering $10 coupons through specially marked family sized boxes of cereal. Find one PIN code printed inside specially marked boxes of Kellogg's cereals, enter the code on their website and then receive a coupon by mail for $10 off a select toy from Hasbro --there are 14 toys to choose from! This is a high value coupon, but you do have to decide ahead of time which product you want to buy and have them send the coupon ... so make sure you submit your pin code early in order to get your coupon in time for Christmas Shopping. See details about this offer on the Kellogg's Website.
Hasbro has ALSO partnered up with Orville Redenbacher popcorn, and is offering a coupon inside specially marked boxes of microwave popcorn to save $5 on Hasbro board games. Pair this coupon with a good Christmas time sale and you may be able to walk away with a board game for as little as $5 or $10! (Or even free ... last week, Zellers offered Scrabble and Monopoly games for $5 ... so with the coupon to save $5 all you had to pay was the tax!) Visit the Orville Redenbacher site for more details.
Mattel meanwhile has partner up with General Mills cereals to bring you a Play and Save offer. Head over to the Play and Save portal at save.ca to order your coupon to save $10 on a toy purchase of $20 with select cereal purchase. Please note: I haven't received this coupon yet, so I don't have specifics of how it works. But it's worth ordering if you think it may be useful to you.
There is a Barbie booklet/coupon offer that offers 10% off when you spend $40 or more on Barbie products. I haven't seen this one myself, just heard it described. It has been seen located near the Barbie displays at Toys R Us stores, and may be available elsewhere too.
Edited to add:
The P&G Brandsaver coupon insert that was delivered this weekend (November 10th) included a coupon to save $5 on the Playskool Rocktivity Sit to Stand Music Skool toy. It is on the page with the Duracell battery coupons.