I've just rescued my little budgie Skye from a shredding toy I gave her for Christmas. The toy can be found in this link http://www.myparrotshop.com/hanging-.../prod_803.html
Skye lives in my office, where I spend a great deal of my time, and I was working away at my computer, conscious of her playing in her cage, when all at once she started to screech like she was in pain. I quickly turned around and here she was hanging upside down, with one foot, and one wing tangled in the threads of the toy, and even worse, the threads were tangled around her throat from struggling; she was in a bad way.
I jumped up and grabbed her to try and untangled her and she started to bite me out of fear. I called out to my wife for a pair of scissors as I didn't want to let her go, and then cut her free and untangled all the threads of the toy from around her throat, leg and wing.
She's OK now, although we both got one hell of a fright. The offending toy is now in the rubbish bin, along with the other two I had in other cages, (I bought three altogether). I've just emailed to company I bought them from and told them what had happened, and suggested that they withdraw this particular toy from sale.
I'm going to post this on Talk Budgies and Talk Cockatiels in the hope that another bird does not have a similar experience. I'm more than happy for anyone to repeat this warning anywhere they think it might do some good.