Yes, as a kid, I had a slinky. So did many of my friends. What's more, I remember the catchy commercials.

Well, amazingly enough, the slinky is still going strong. In fact, on CNBC's "Business Nation," there is a look at the intriguing history of this popular toy.

Richard James, an engineer from Pennsylvania, invented the Slinky in 1945. For the most part, the device hasn't changed much (and is still American-made). Like many great innovations, the Slinky was an accident. Richard wanted to develop a device for shipboard instruments. But, in the development process, he accidentally dropped some springs -- which had a rhythm.

Hmmm... could it be a toy? Richard's wife, Betty, thought so and even came up with the Slinky name. Richard actually spent two years refining the Slinky. And, when it launched, it was an instant hit.

How many Slinkys have been sold? More than 300 million.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.