The G.I. Joe action figure—whose name came from the 1945 film, "The Story of G.I. Joe," and the World War II slang for the typical serviceman "Government Issue Joe"—was presented as a rugged, powerful fighting man, with a deliberately generic face, scarred to prove his indifference to pain. Accessory packs for all branches of the U.S. Armed Services were available for purchase, and its toy weaponry was impressively authentic in detail. G.I. Joe could be a combat-ready soldier carrying a bayonet, an undersea frogman sent to explode a ship, or a Marine landing on Iwo Jima.

These toys were a hit with Baby Boomer children, partially due to their emotional connection to their family members who had served as soldiers, pilots, and sailors in World War II. The boys could imagine themselves going on the missions fought by their fathers, uncles, and grandfathers—in that way, G.I. Joe helped the generations bond.

In addition, 1964 was a timely year to introduce new military toys: The United States was stockpiling weapons for the Cold War and growing more entangled in the conflict in Vietnam. Thanks to the growing pro-military fervor, fake guns and small plastic soldiers were hugely popular at the time. Hasbro’s new toy struck a chord.

One of the company's most clever promotional moves was to encourage boys to join its G.I. Joe Club, which had kids forming "Backyard Patrol" groups that required authentic accessories. Other companies trying to ride on Hasbro's coattails put out cheaply made uniforms and weapons branded Fighting Yank, Action Buddy, Our Fighting Man, etc. However, the children and parents recognized the quality difference, and were willing to pay more for the Hasbro gear. The success of G.I. Joe spread to Canada, England, Germany, Italy, France, Spain, Mexico, and Japan.

By 1968, however, as the United States' involvement in the Vietnam War peaked and the conflict became increasingly unpopular at home, G.I. Joe toys started to fall out of favor. In 1969, Hasbro declared that G.I. Joe had retired from the military and would now be an "Adventurer," with some weapons but many more accessories meant for exploring deserts, jungles, and even the ocean floor.

The Adventurer G.I. Joe was a lot like Indiana Jones, rescuing mummies and gilded artifacts, and wrestling with wild beasts like bears, gorillas, and lions. As a part of a new "Adventure Team," this post-combat G.I. Joe, with his fuzzy "life-like" hair and beard, was on a mission to prevent world-wide disaster. The new look, direction, and "AT" logo made G.I. Joe a sensation all over again. In 1974, the action figures got "Kung Fu" grip hands, so the Joes could more easily hold weapons and adventuring equipment.

As the price of plastic rose, G.I. Joe got a new figure in 1976—a smooth, lightweight "muscle body," wearing blue swim trunks. This money-saving change didn't go over well with the public, which was losing interest in G.I. Joe, despite the company's attempts to remake him as the Atomic Man Mike Power, Bulletman, and one of the Intruders.

The year 1977 marked the end of the 12-inch G.I. Joe. Instead, Hasbro offered an 8-inch Super G.I. Joe, with the same face, grip, and muscular body of its predecessor. It was Hasbro’s attempt to enter the market established by Mego, which made wildly successful 8-inch figures of DC and Marvel comic-book superheroes. However, the venture failed to take hold.

It wasn't until 1982 that Hasbro launched another G.I. Joe line, this time with 3 ¾-inch posable figures similar to Kenner's Star Wars figurines, which were selling like hotcakes.

The new G.I. Joe was rebranded as "A Real American Hero." Instead of being an anonymous fighting man, each pocket-sized figure had its own identity and exciting code name, like Snake Eyes, Stalker, Short Fuse, Breaker, Zap, Flash, Scarlett (a woman), Rock 'n Roll, and Grunt. The '80s G.I. Joe team also had a new enemy army, the Cobra Command led by Cobra and Cobra Officer.

For 13 years, this new incarnation of G.I. Joe flourished on the market, spawning companion toy military vehicles and aircraft, as well as new heroes and enemies. These G.I. Joes became the heroes of a popular children's TV cartoon, a comic-book series, and several video games.

In 1995, Hasbro hoped to revive declining interest in G.I. Joe with larger 5-inch figurines called Sgt. Savage and His Screaming Eagles, who were also featured in a new animated TV show. When that failed, the company tried and stumbled again with G.I. Joe Extreme, modeled after popular superhero action-figure lines.

The 12-inch G.I. Joe action figures were produced again in limited numbers in the 1990s, usually in special deals with Target. In 1992, Hasbro began releasing limited-edition 12-inch versions popular '80s G.I. Joe characters. In 1994, it reintroduced the generic 12-inch G.I. Joe, and late in 1995, the "Classic Collection" came out with a figure similar to the 1976 "muscle body."

A new reproduction line was started in 1996 by original G.I. Joe designer Don Levine and John Michlig, in collaboration with Chronicle Books. These 12-inch figurines were sold under the Masterpiece brand, but were too expensive to be purchased as mere playthings—these were instant collectibles. In 2004, classic 1964 figurines were released again.

The vintage 12-inch G.I. Joes are the most sought-after for collectors. For example, a rare G.I. Nurse from 1967, the earliest female G.I. Joe ever made, recently sold at an auction for more than $6,000.

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