The premise of the helicopter gyro is based on the idea that the movement of the center mass of the gyro causes stability and rotation of the mass. The idea is that by adding dull aerofoils, it might be possible to induce steady, level flight at low heights due to the rapid spinning of the gyro.
In essence, the child will play with the toy by threading a thin string through the threading hole, while holding one of the stable holding bars that are not attached to the center shaft (thus allowing spinning while stabilizing the gyro). When the string is wound up and pulled back out, the gyro would start to stabilize and lift off the ground as the spinning speed of the foils and the center mass increases (theoretically at this point). The hope would be that the gyro would lift up and return to the ground fluidly and naturally due to the nature of the movement of a gyro. In this way, it would even be possible for multiple children to attempt to land their gyro on a target, or get their gyro higher than others'.
The production cost of this item would remain relatively low as most of the gyro could be made from cheap but durable plastics, and inexpensive metals, save the center mass and aerofoils. Since the center mass and aerofoils need be made to very precise specifications, and must be of some quality lest the gyro wear out in short order and no longer function properly. As such, the production cost could remain relatively low, though production would be somewhat more costly than other simple toys, again due to the precise nature of some of the parts.
The durability of the gyro would also be moderate. Given that the plastic outer bars would serve to protect the center mass and foils, so that they are not misplaced from their delicate settings, the toy could easily sustain any number of drops that would occur in normal play. Unfortunately, due to weight constraints and precise tuned nature of the inner pieces, the gyro would most likely not be able to sustain a forceful throw, even by a child of 7. As such, the suggested age range would probably lie in the realm of 8+.
The toy would also be very safe. Since the aerofoils are dulled and the toy offer no other sharp edges or excessively small pieces, there would be little in the way of hazard. This is not to say that a child would not be injured were the gyro to be thrown by another child. But, within the realms of normal use, the toy would be very safe.