Homemade pet toys can pose risks such as choking hazards, toxic materials, or sharp edges. To make them safely, use durable, non-toxic materials like natural fabrics, untreated wood, or food-grade silicone. Avoid small parts that can be swallowed and secure all components firmly. Ensure there are no sharp edges or loose threads. Supervise pets during play to monitor for any signs of wear and tear. Regularly inspect the toys for damage and replace them as needed to maintain safety. Always prioritize the pet's size and chewing habits when creating homemade toys.