EXHIBIT 23.2

                       CONSENT OF INDEPENDENT ACCOUNTANTS
   
     We consent to the inclusion in this Amendment No. 3 to the registration
statement on Form S-1 (File No. 333-39291) of our report dated October 20, 1997,
on our audits of the consolidated financial statements and financial statement
schedule of Play by Play Toys & Novelties, Inc. and Subsidiaries. We also
consent to the reference to our firm under the caption "Experts."
    
                                          COOPERS & LYBRAND L.L.P.
   
Austin, Texas
November 26, 1997