The word "play" has several different signs depending on what you mean.
If you mean play as in an "act" or a "drama," see:
THEATER / act / play / drama
If you mean "play" as in "playing around" then you can use the version
of this sign that shakes "Y" handshapes.
PLAY (as in "play time," "playing,")
PLAYER: To sign "player" simply add the "PERSON /
sign to the sign PLAY.
PARTY: The sign PLAY happens to be one of the versions of the sign
for "party." There are four common ways to sign "party." The
point I want to make here though is that you should NOT initialize the sign
play with a "P" hand.
I've observed quite a few educators of Deaf children using an initialized form
of PLAY (with a "T" handshape) for the
sign "TOYS." Which is to say, some of them do the sign for
"toys" by signing "play" using
"T" handshapes. I don't really think that is such a good
idea. To me it looks sort of like "double bathroom" or something.
In context, the "Y" handshape version of the sign PLAY can be used to mean
"toys" but I and most of my associates just spell "T-O-Y-S."