EXHIBIT 10.21

                         TWELFTH AMENDMENT TO REVOLVING
                         ------------------------------
                         CREDIT AND TERM LOAN AGREEMENT
                         ------------------------------


     This Twelfth Amendment To Revolving Credit And Term Loan Agreement
("Twelfth Amendment") is made by and among TANDYCRAFTS, INC., a Delaware
corporation ("Company"), THE DEVELOPMENT ASSOCIATION, INC., a Texas corporation,
SAV-ON, INC., a Texas corporation, DAVID JAMES MANUFACTURING, INC., a Texas
corporation, PLC LEATHER COMPANY, a Nevada corporation, TANDYARTS, INC., a
Nevada corporation, and LICENSED LIFESTYLES, INC., a Nevada corporation
(hereinafter collectively referred to as the "Guarantors"), and WELLS FARGO BANK
(TEXAS), NATIONAL ASSOCIATION (formerly First Interstate Bank of Texas, N.A.),
BANK ONE, TEXAS, N.A. and THE FIRST NATIONAL BANK OF CHICAGO (formerly NBD BANK)
(collectively, the "Banks") and WELLS FARGO BANK (TEXAS), NATIONAL ASSOCIATION,
as agent for the Banks ("Agent"); and

     WHEREAS, the Company, certain of Guarantors and Agent entered into that
certain Revolving Credit and Term Loan Agreement dated September 29, 1993 (the
"Loan Agreement"); and

     WHEREAS, the Company, certain of Guarantors, certain of Banks and Agent
entered into that certain First Amendment to Revolving Credit and Term Loan
Agreement dated December 3, 1993 ("First Amendment"); and

     WHEREAS, the Company, the Guarantors, certain of Banks and Agent entered
into that certain Second Amendment To Revolving Credit and Term Loan Agreement
dated September 26, 1994 ("Second Amendment"); and

     WHEREAS, the Company, Guarantors, certain of Banks and Agent entered into
that certain Third Amendment to Revolving Credit and Term Loan Agreement dated
December 31, 1994 ("Third Amendment"); and

     WHEREAS, the Company, Guarantors, certain of Banks and Agent entered into
that certain Fourth Amendment to Revolving Credit and Term Loan Agreement dated
July 6, 1995 ("Fourth Amendment"); and

     WHEREAS, the Company, Guarantors, certain of Banks and Agent entered into
that certain Fifth Amendment to Revolving Credit and Term Loan Agreement dated
December 31, 1995 ("Fifth Amendment"); and

     WHEREAS, the Company, Guarantors, certain of Banks and Agent entered into
that certain Sixth Amendment to Revolving Credit and Term Loan Agreement dated
October 31, 1996 ("Sixth Amendment"); and

     WHEREAS, the Company, Guarantors, certain of Banks and Agent entered into
that certain Seventh Amendment to Revolving Credit and Term Loan Agreement dated
December 31, 1996 ("Seventh Amendment"); and

     WHEREAS, the Company, Guarantors and Banks entered into that certain Eighth
Amendment to Revolving Credit and Term Loan Agreement dated March 31, 1997
("Eighth Amendment"); and

     WHEREAS, the Company, Guarantors and banks entered into that certain Ninth
Amendment to Revolving Credit and Term Loan Agreement dated September 30, 1997
("Ninth Amendment"); and

     WHEREAS, the Company, Guarantors and Banks entered into that certain Tenth
Amendment to Revolving Credit and Term Loan Agreement dated December 31, 1997
("Tenth Amendment"); and

     WHEREAS, the Company, Guarantors and Banks entered into that one certain
Eleventh Amendment to Revolving Credit and Term Loan Agreement dated August 10,
1998 ("Eleventh Amendment"); and

     WHEREAS, the Company, Guarantors, certain of Banks and Agent desire to
amend the Loan Agreement in certain respects; and

     WHEREAS, capitalized terms used herein shall have the meaning assigned to
them in the Loan Agreement unless the context otherwise requires or provides.

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, it is agreed by and among the
Company, Guarantors, Banks and Agent as follows:

                                       1.

     Section 1.77 of the Loan Agreement is amended to read as follows:

          1.77. "Termination Date" shall mean November 30, 1999.
                 ----------------

                                       2.

     Company and Guarantors warrant and represent to Banks that no Event of
Default exists.  By their execution hereof, each of the Guarantors ratify and
confirm the terms of the Guaranty Agreement dated August 17, 1994, agree that
the Guaranty Agreement shall remain in full force and effect and unconditionally
agree that the Guaranty Agreement is enforceable against each of them in
accordance with its terms.


                                       3.

     Except as amended by the First Amendment, the Second Amendment, the Third
Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the
Seventh Amendment, the Eighth Amendment, the Ninth Amendment, the Tenth
Amendment, the Eleventh Amendment and this Twelfth Amendment, the Loan Agreement
is ratified and confirmed and shall remain in full force and effect.

                                       4.

     This Twelfth Amendment shall be governed by and construed in accordance
with the laws of the State of Texas.

                                       5.

     At the time of execution of this Twelfth Amendment, Company agrees to pay
Agent for the pro-rata benefit of Banks an amendment fee in the amount of six
thousand dollars ($6,000).  Company agrees to pay all expenses incurred by Agent
and Banks in connection with the negotiation and preparation of this Twelfth
Amendment, including reasonable attorney's fees.

                                       6.

     This Twelfth Amendment may be executed in any number of multiple
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original, and all of which taken
together shall constitute one and the same agreement.

                                       7.

     Banks, Company, and Guarantors agree to be bound by the current Arbitration
Program of Agent which is incorporated by reference herein and is acknowledged
as received by the parties pursuant to which any and all disputes shall be
resolved by mandatory binding arbitration upon the request of any party.

                                       8.

     This Twelfth Amendment shall be binding upon and inure to the benefit of
the parties and their respective successors and assigns.


                                       9.

     THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT AMONG THE PARTIES AND
MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG
THE PARTIES.

     Executed to be effective as of November 9, 1998.

                              TANDYCRAFTS, INC., a Delaware
                                          corporation

                              By:  /s/ James D. Allen
                                 --------------------------------
                                   James D. Allen, Executive
                                             Vice President
                                                  COMPANY

                              SAV-ON, INC., a Texas corporation

                              By:  /s/ Russell Price
                                 --------------------------------
                                   Russell Price, Secretary

                              DAVID JAMES MANUFACTURING,
                                        INC., a Texas corporation

                              By:  /s/ Russell Price
                                 --------------------------------
                                   Russell Price, Secretary

                              THE DEVELOPMENT ASSOCIATION,
                                   INC., a Texas corporation

                              By:  /s/ Russell Price
                                 --------------------------------
                                   Russell Price, Secretary

                              PLC LEATHER COMPANY,
                                          a Nevada corporation

                              By:  /s/ Russell Price
                                 --------------------------------
                                   Russell Price, Secretary

                              TANDYARTS, INC., a Nevada
                                          corporation

                              By:  /s/ Russell Price
                                 --------------------------------
                                   Russell Price, Secretary

                              LICENSED LIFESTYLES, INC. a Nevada corporation
                                 (successor by merger to College Flags and
                                 Manufacturing, Inc., a South Carolina
                                 corporation)

                              By:  /s/ Russell Price
                                 --------------------------------
                                   Russell Price, Secretary

                                             GUARANTORS


                              WELLS FARGO BANK (TEXAS), NATIONAL ASSOCIATION
                                 (formerly First Interstate Bank of Texas,
                                 N.A.)


                              By:  /s/ Susan Sheffield
                                 --------------------------------
                                   Susan Sheffield, Vice President


                              BANK ONE, TEXAS, N.A.

                              By:  /s/ Michael Wilson
                                 --------------------------------
                                   Michael Wilson, Senior
                                        Vice President

                              THE FIRST NATIONAL BANK OF CHICAGO

                              By:  /s/ Jenny Gilpin
                                 --------------------------------
                                   Jenny Gilpin, Vice President

                                                  BANKS