I also have a little girl who brings a lovey to school everyday. She’s 4 and says she had “kitty” since she was a baby. The animal is tattered and worn and obviously a favorite cuddly. In my class these sleeptime buddies are only allowed during naptime and are kept in cubbies at other times. The only exception to this rule is if a child is having a rough day I might allow him/her to sit in a chair with their buddy but I do not let them carry these items around the room or pass them around to other kids.
I have never had to deal with a parent calling and asking for a toy back after hours because I work in a center. Most of my kids don’t still sleep with toys and the little girl who does is really good about remembering to get kitty.
If I had a home-based Business I’d probably do like some of you do and put the toy in a bag on the porch.

Reply