On 10 September 1946 Walter Morrison, an American military pilot, after reading numerous magazines about “flying objects”, new aviation technologies and the future of aircraft, invented a toy now known worldwide as the Frisbee, a plastic flying disk. The “flying saucer” invented by Morrison resembles a UFO.
The name of the disc came from a game popular at Yale University, where students were playing with round tin trays from the Frisbie Pie Company during breaks. The flying disc, improved by Morrison, had borrowed the Frisbie monicker without asking, so Wham-O, the company which produced the popular toy, had to change its spelling to Frisbee. The toy became popular all over the world and in the cult films “Back to the Future” and “Once Upon a Time in America” symbolized the onset of a new era.
Surprisingly, the development of military technology and technical innovations worldwide went hand in hand with the development of toys. The skateboard emerged in the United States from the cart on which a radio-gunner would moving into his cab in a lying position in a narrow channel. The roly-poly toy was invented in the Soviet Union in 1957 at an armaments plant.
Source: http://www.whatisultimate.com/history/of-frisbeesflying-discs/