A treat dispensing device has a body and a hollow interior. A plurality of dispensing openings function to dispense treats. A non-adjustable opening is formed on an exterior surface of the body. A sleeve is slideably engaged within a part of the hollow interior of the body. At least one adjustable opening is formed on the sleeve. A user selectively places the pet toy in a first position to cover the adjustable opening with a portion of the body and a second position to expose the adjustable opening. The sleeve may include two sections in which an adjustable opening is formed on each section. A third position of the pet toy is defined by placement of the body relative to the sleeve so an adjustable opening is exposed on each sleeve section. An incremental position is defined by placement of the body relative to the sleeve so at least one adjustable opening is partially or fully exposed. A method includes placement of the device in a selected position to dispense treats at a selected rate for selected treats.
