Winslow P. Schott was a kindly toymaker.
As would be recounted to Lois Lane, Schott originally crafted toys from a workshop, taking satisfaction that children enjoyed his wares. His ambition was to mass produce his toys with a factory, but he lacked the capital. Bruno Mannheim offered to pay for the factory, but used it as a front for his numbers racket. When authorities closed in, Mannheim skipped town and let Schott take the fall. When Clark Kent was researching the trial, it was believed Mannheim was the chief suspect in the illegal business, but the paper trail implicated Schott. Schott was convicted of the crime and sentenced to ten years imprisonment. When the villian Toyman began attacking Mannheim and his operations, Kent believed Schott was Toyman's true identity. That theory was disproven by Jimmy Olsen, who found Schott's obituary dated prior to the attacks. Kent sympathetically remarked that Schott died shortly before he was being considered for parole. The true identity of Toyman was Winslow Schott Junior, the son of the elder Schott, He was still a minor at the time of his father's imprisonment, and orphaned by his subsequent death. Without either parent or living relatives, the son was bounced from foster home to foster home (in his words) "like a toy nobody wanted".
Angry at losing his beloved father, the younger Schott took on the persona of Toyman, which served a three-fold mission: first, to take vengeance on Mannheim and others who contributed to the downfall of Winslow P. Schott Senior, second, to succeed his father in toymaking (although his toys often were dual-use as sophisticated and deadly weapons), and third, to keep his life in a state of perpetual childhood fun and happiness.