Blimey, Action Man toy people! (5)
I believe the answer is:
corgi
'toy people' is the definition.
(children's toy company)
'blimey action man' is the wordplay.
'blimey' becomes 'cor' (I've seen this before).
'action man' becomes 'gi' (reference to GI Joe, US name for Action Man).
'cor'+'gi'='CORGI'
(Other definitions for corgi that I've seen before include "Barker?" , "Pre-2018 royal dog" , "Welsh breed of short-legged dog" , "Cardigan, possibly" , "Toy car manufacturer" .)