Toy Injury Reduction Act

Toy Injury Reduction Act - Directs the Consumer Product Safety Commission (CPSC) to issue a regulation requiring cautionary labeling warning of any dangers: (1) for any children's toy or other article intended for use by children age three to six (or such other upper age as the CPSC may determine) which is manufactured or offered for sale, or distributed in commerce in the United States, and includes a small part as defined by the CPSC; and (2) for any balloon, game or skill intended for children age three or older which contains or consists of small balls, or any marble intended for children in such age range which is manufactured or offered for sale or distributed in commerce in the United States.

Requires that all labeling required under such a regulation: (1) be prominently and conspicuously displayed on the packaging of the toy or other article or balloon, game of skill, or marble (toy) and on any descriptive materials which accompany the toy; (2) be visible and noticeable; and (3) include the word "WARNING" in capital letters.

Authorizes the CPSC to use any remedy available to it under the Federal Hazardous Substances Act to enforce the requirements of such regulations.

Directs the CPSC to issue a regulation to make balls which are intended for children under age three and which are less than a minimum size (prescribed in the regulation) a banned hazardous substance.

Requires the CPSC to issue reglations under this Act by January 1, 1993.