As its title indicates, Volume 2 is a sequel to the original Oz Toy Book (1915) by John R. Neill, which featured 54 characters from the first nine Oz books. Shanower picks up where Neill left off: he does not duplicate any of Neill's figures, but portrays 44 characters from books by L. Frank Baum, Ruth Plumly Thompson, and Jack Snow.
Shanower includes a few characters from Baum's early books, including Jellia Jamb, the Queen of the Field Mice, and the Witches of the North and West (the latter is the Baum and Denslow figure, not the MGM version). He delivers a greater number of characters from Baum's later works — Trot and Cap'n Bill; King Rinkitink, Prince Inga, and Bilbil; Cayke and the Frogman; and Woot the Wanderer and Captain Fyter among others.
From Thompson's books, Shanower portrays Kabumpo, Gloma, Tandy and King Ato, Prince Randy and Jinnicky the Red Jinn, among others. From Jack Snow's two books, Shanower selects ten figures, ranging from the King of the Fairy Beavers to the flowers of Story Blossom Garden.
Notably, Shanower only selects characters from books that are in the public domain.