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Smart toys have become popular as technological solutions offer a better experience for children. However, the technology used increases the risks to children’s privacy, which does not seem to have become a real concern for toy makers. Most researchers in this domain are vague in defining their motivations due to lack of an expert survey to support them. We conducted a literature survey to find papers on smart toy-related children’s privacy risks and mitigation solutions. We analyzed 26 papers using a taxonomy for privacy principles and preserving techniques adapted from the IoT context. Our analysis shows that some types of risks received more attention, especially (a) confidentiality,(b) use, retention and disclosure limitation,(c) authorization,(d) consent and choice,(e) openness, transparency and notice and (f) authentication. As for solutions, few were effectively presented; the vast majority related to data restriction–(a) access control and (b) cryptographic.