An improved safety valve for a toy air gun apparatus in which the toy air gun includes a piston and a drive spring mounted in a grip portion of the air gun. A handle extends from the bottom of the grip portion and is manipulated by the user to cock the air gun by compressing the drive spring. When the user pull a trigger the piston is released and surges upward because of the expanding drive spring. A valve element located to the rear of a barrel section of the air gun receives a blast of compressed air in a direction lateral to the longitudinal axis of the valve element and lateral to valve element movement between an open, rearward position and a closed, forward position.