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Castle Greyskull and Snake Mountain....or any playset. My parents had some kind of vendetta against playsets. So all I ever got was the loose figures and the medium to small vehicles.

Looking back on these now....maybe they weren't as cool as I remember. The pit that the figures could fall into blew my five year old mind though. I assumed that if I ever owned one myself, I would play with it non-stop.

If we're talking teenage years...definitely a car. I didn't own a car until I got my first job post-law school, as I simply couldn't afford it until then. I could sometimes borrow my mom's mini-van. Not as good as owning your own car.

Edit: Also bb guns or any kind of gun beyond a water pistol. My parents were very liberal about what kind of music/Media I could consume. But ultra strict about me owning anything that had any potential actual danger. They were the kind of people that would read one story about something going awry and then totally ban that thing.