A pet toy includes a ring shaped peripheral body and an interior dispenser. An interior curved engaging surface of the peripheral body engages an exterior spherical surface of the dispenser. A curvature of the interior engaging surface allows the dispenser to continuously roll or rotate, yet maintain engagement with the peripheral body when the peripheral body is displaced by contact. The dispenser is hollow thereby defining a chamber to receive treats. One or more dispensing openings are provided on the dispenser to selectively dispense treats. The openings can be sized to selectively dispense treats of various sizes and shapes. The invention further includes a method of dispensing treats from a pet toy and a combination comprising the pet toy and selected treats loaded within the chamber.
