A chew toy assembly that is selectively convertible between a ball configuration and a bone configuration. The chew toy assembly has two invertible structures that are disposed at opposite ends of an elongated body. Each of the invertible structures is selectively configured between a hemispherical shape and a funnel shape by physical manipulation, wherein each invertible structure has a central hub. When the invertible structures are in their hemispherical shapes, the invertible structures form a ball around the elongated body. Alternatively, when the invertible structures are in their funnel shapes, the invertible structures diverge away from the elongated body in opposite directions, therein forming a bone configuration.
