A toy racetrack having an obstacle that is moved into and out of the path of a toy vehicle travelling along the racetrack is provided. The racetrack includes a closed loop track and may include a booster mechanism for propelling a toy vehicle along the track. The obstacle may be formed by a movable web or net with an opening that can be used to catch a toy vehicle traveling along the track. A support tower is located adjacent the track, and an obstacle carrier, optionally including an action figure, is movably mounted to the support tower. The figure holds the net, and the figure and net are movable between a raised position and a lowered position. When the net is in its lowered position, a toy vehicle traveling along the track is captured by the net when the net is manually positioned in a capture position.