A penny floater is a kind of cheap football

Football (ball)

A football is an inflated ball used to play one of the various sports known as football.The first balls were made of natural materials, such as an inflated pig bladder, sometimes inside a leather cover...

 commonly used by children in the western world

Western world

The Western world, also known as the West and the Occident , is a term referring to the countries of Western Europe , the countries of the Americas, as well all countries of Northern and Central Europe, Australia and New Zealand...

. Its name derives from the fact that when they were first developed in the 1960s they cost a penny

Penny

A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...

. The floater part comes from the fact that as they are made of a thin layer of hardened plastic

Plastic

A plastic material is any of a wide range of synthetic or semi-synthetic organic solids used in the manufacture of industrial products. Plastics are typically polymers of high molecular mass, and may contain other substances to improve performance and/or reduce production costs...

 filled with air: their light weight makes them susceptible to floating or swerving with the wind.

Penny floaters are commonly used by young children; however amongst older children they are a source of ridicule, being branded cheap "toy

Toy

A toy is any object that can be used for play. Toys are associated commonly with children and pets. Playing with toys is often thought to be an enjoyable means of training the young for life in human society. Different materials are used to make toys enjoyable and cuddly to both young and old...

" footballs unsuitable for usage. Nonetheless, their cheapness and the fact that they do not damage other objects in urban environments as easily as regular footballs do makes them common.