What sort of toy? For what purpose??
For dildos, I like silicone if they're going to be inserted into anyone, because they can be used without a condom. And, as Rin said, silicone's easy to take care of and VERY durable. Dual-density silicone (like Vixskin) feels pretty real during penetration. If I'm going to use the dildo for practicing oral, I prefer more skin-like materials (like UR3, which is TPE). I've had rubber dildos. They're inexpensive, but I don't find the feel to be very lifelike, and for penetration, you really should use a condom each time. Some rubber toys have a really bad odor which never goes away; others are not that bad (check the reviews for the specific product).
I have a masturbator made of TPE (which I THINK is very similar to TPR) and it feels great. But I had to replace it after 2 years, because the material lost its softness and stopped feeling good. I've been shopping for a silicone version of basically the same thing and from reading reviews, it seems like some of them feel as good (at least) as TPE. They should also last longer and they're not that much more expensive.
I hope that helps?