The track was originally demoed with Bowie's then-band, the Buzz, but producer Tony Hatch was unhappy with their efforts and replaced them with session players.

[7] The musical style supports the lyric which, in Nicholas Pegg's words, is "a cynical celebration of a layabout lifestyle on London's transient teen-scene".

[8] Reviewing the single retrospectively for AllMusic, Ned Raggett called the song an "enjoyable enough romp" that has "just enough fun and bite to connect in equal measure".

[1] Shortly after, he re-recorded the song during the sessions for the Toy project between July and October 2000, along with other tracks he wrote and recorded during the mid-1960s, including his other Pye single "Can't Help Thinking About Me".

[14] The lineup consisted of members of Bowie's then-touring band: guitarist Earl Slick, bassist Gail Ann Dorsey, pianist Mike Garson, musician Mark Plati and drummer Sterling Campbell, along with instrumentalist Lisa Germano on violin and backing vocalists Holly Palmer and Emm Gryner.

[15][14] Co-produced by Bowie and Plati, the band rehearsed the songs at Sear Sound Studios in New York City before recording them as live tracks.

[1] Ten years later, on 29 September 2021, Warner Music Group announced that Toy would get an official release on 26 November as part of the box set Brilliant Adventure (1992–2001) through ISO and Parlophone.

[20][24] The Evening Standard's David Smyth writes that, similar to the leaked version, the official release abandons Hatch's original production to become a "stomping rocker".

[25] Helen Brown of The Independent also stated that "the once wannabe-jaunty" original is morphed into "a blast of grungy fun", further noting the difference in Bowie's vocal performance.

[26] Meanwhile, Rolling Stone's Brenna Ehrlich found the remake harkened back to Bowie's cover of Them's "Here Comes the Night" from Pin Ups (1973).

[27] Reviewing Toy, Pitchfork's Sean T. Collins praised the performances of the band but felt they hurt the material more than help it, particularly on "I Dig Everything", which went from a "Swinging London, proto-reggae sound" to a "preening rocker".