Toy Story character with a way one can fly (7)
I believe the answer is:
buzzard
'one can fly' is the definition.
(buzzard is a kind of bird)
'toy story character with a way' is the wordplay.
'toy story character' becomes 'buzz' (buzz lightyear).
'with' means one lot of letters go next to another.
'way' becomes 'rd' (short for road).
'buzz'+'a'+'rd'='BUZZARD'
(Other definitions for buzzard that I've seen before include "Raptor" , "American vulture or European hawk" , "Predatory hawk" , "See 20" , "Kind of big hawk or grasping person" .)