Optical toy from space I looked around (12)
I believe the answer is:
kaleidoscope
'optical toy' is the definition.
(I've seen this before)
'space i looked around' is the wordplay.
'around' is an anagram indicator.
'space'+'i'+'looked'='spaceilooked'
'spaceilooked' with letters rearranged gives 'KALEIDOSCOPE'.
'from' is the link.
(Other definitions for kaleidoscope that I've seen before include "colourful viewer" , "A changing pattern of colours, shapes" , "poodle is plastered with cake" , "Diverse variety of sights" , "Device showing coloured patterns" .)