What is claimed is: 1. A circular flying disc comprising: an annular section comprising an aperture through its center, an inner periphery and an outer periphery, a generally concave inner surface, a generally convex outer surface, and a rim extending around the outer periphery wherein one of thesurfaces of the annular section comprises a plurality of spaced apart pegs positioned around the inner periphery; an insert disposed across the aperture; and a closed strip fusion bonded to the surface of the annular section comprising the spaced apart pegs, the fusion bond between the closed strip and such a surface of the annular section formed by heating a surface of the closed strip to melt such astrip surface and heating the surface of the annular section to melt such an annular section surface and then contacting the melted surface of the strip with the melted surface of the annular section so that the surfaces solidify together for forming thefusion bond between the closed strip and the pegs, said fusion bond permanently securing the insert in place across the aperture. 2. A circular flying disc according to claim 1 wherein the aperture is circular and the closed strip is a ring. 3. A circular flying disc according to claim 2 wherein the annular section further comprises a plurality of concentric circular raised ribs on its convex outer surface, said ribs being concentric about the circular aperture. 4. A circular flying disc according to claim 2 wherein the annular section further comprises: a flat circular recess disposed on one surface of the annular section extending around the inner periphery; and the plurality of spaced apart pegs extending from the flat circular recess. 5. A circular flying disc according to claim 4 wherein the annular section further comprises a groove surrounding each peg and located in the flat circular recess, wherein the end of each peg extends beyond the surface of the flat circularrecess. 6. A circular flying disc according to claim 4 wherein the insert has a plurality of holes therethrough, the holes spaced around the periphery of the insert and located so as to register the pegs, wherein the pegs extend through the holes. 7. A circular flying disc according to claim 6 wherein the insert is a thin film of plastic material. 8. A circular flying disc according to claim 7 wherein the plastic material is polyester. 9. A circular flying disc according to claim 6 wherein the insert is cloth. 10. A circular flying disc according to claim 6 where two radially spaced apart adjacent grooves extend concentrically around the ring on a surface thereof, wherein an extended, flat, raised contact area is defined between the grooves, saidcontact area being located so as to abut the spaced apart pegs which extend through the holes in the insert. 11. A circular flying disc according to claim 10 wherein the fusion bond between the ring and the surface of the annular section is between the contact area of the ring and the pegs. 12. A circular flying disc according to claim 6 wherein the flat circular recess and the pegs extending therefrom are disposed on the generally concave inner surface of the annular section. 13. A circular flying disc according to claim 6 wherein the flat circular recess and the pegs extending therefrom are disposed on the generally convex outer surface of the annular section. 14. A circular flying disc according to claim 7 wherein the insert is transparent. 15. A circular flying disc according to claim 7 wherein the insert is opaque. 16. A circular flying disc according to claim 7 wherein transparent indicia are imparted to a surface of the insert. 17. A circular flying disc according to claim 7 wherein opaque indicia are imparted to a surface of the insert. 18. A circular flying disc according to claim 1 wherein the insert comprises two thin films of plastic material laminated together wherein indicia are on a facing surface of one of the films. 19. A circular flying disc comprising: an annular section comprising a circular aperture through its center, an inner periphery and an outer periphery, a generally concave inner surface, a generally convex outer surface, and a rim extending around the outer periphery, wherein a flatcircular recess is disposed on one surface of the annular section extending around the inner periphery and a plurality of spaced apart pegs extend from the flat circular recess, the pegs positioned around the inner periphery; an insert disposed across the aperture wherein the insert has a plurality of holes therethrough spaced around its periphery, said holes located so as to register the pegs, wherein the pegs extend through the holes; a ring having two radially spaced apart adjacent grooves extending therearound on its surface, the grooves defining an extended, flat, raised contact area therebetween, the contact area being located so as to abut the spaced apart pegs whichextend through the holes in the insert; and a fusion bond between the contact area of the ring and the pegs for permanently securing the insert in place across the aperture. 20. A circular flying disc according to claim 19 wherein the insert is a thin polyester film. 21. A circular flying disc according to claim 19 wherein the flat circular recess and the pegs extending therefrom are disposed on the generally concave inner surface of the annular section. 22. A circular flying disc according to claim 19 wherein the flat circular recess and the pegs extending therefrom are disposed on the generally convex outer surface of the annular section. 23. A circular flying disc according to claim 20 wherein the insert is transparent. 24. A circular flying disc according to claim 20 wherein the insert is opaque. 25. A process for forming a circular flying disc comprising the steps of: forming an annular section comprising a thermoplastic material, said annular section having: a generally concave inner surface and a generally convex outer surface; a circular aperture through its center; an inner periphery and an outer periphery; a rim extending around the outer periphery; a flat circular recess disposed on the inner surface of the annular section extending around the inner periphery; and a plurality of spaced apart pegs extending from the flat circular recess positioned around the inner periphery; holding the annular section in a first fixture with the rim of the annular section extending vertically for providing that the pegs extending from the flat circular recess point vertically away from the first fixture; holding a circular retaining ring comprising a thermoplastic material in a second fixture, the second fixture located in opposed relation to the first fixture; placing a circular insert across the circular aperture of the annular section, said circular insert having a plurality of holes therethrough disposed at predetermined intervals around its periphery, the plurality of spaced apart pegs extendingthrough the holes; bonding the circular retaining ring to the pegs, thereby permanently securing the insert between the circular retaining ring and the annular section; and thereafter applying heat to the surface of the circular insert to thereby cause the insert to contract for forming the circular flying disc. 26. A process for forming a circular flying disc comprising the steps of: forming an annular section comprising a thermoplastic material, said annular section having: a generally concave inner surface and a generally convex outer surface; an aperture through its center; an inner periphery and an outer periphery; a rim extending around the outer periphery; a flat circular recess disposed on one surface of the annular section, said recess extending around the inner periphery; and a plurality of spaced apart pegs extending from the flat circular recess positioned around the inner periphery; placing an insert across the aperture of the annular section, said insert having a plurality of holes therethrough disposed at predetermined intervals around its periphery, the spaced apart pegs extending through the holes; and fusion bonding a closed strip comprising a thermoplastic material to the pegs, thereby permanently securing the insert between the closed strip and the annular section for forming the circular flying disc. 27. A process according to claim 26 wherein the aperture and insert are circular and the closed strip is a circular retaining ring comprising a thermoplastic material. 28. A process according to claim 27 wherein the insert is a thin film of plastic material. 29. A process according to claim 28 wherein the plastic material is polyester. 30. A process according to claim 27 comprising fusion bonding the circular retaining ring to the pegs by: heating a top surface of each of the pegs until such a top surface is molten; heating a surface of the circular retaining ring until such a surface is molten; contacting the molten surface of each peg to the molten surface of the ring; and holding the ring and pegs in contact until said ring and pegs cool, thereby allowing a fusion bond to be formed between the pegs and ring. 31. A process according to claim 30 wherein the annular section further comprises a plurality of concentric circular raised ribs on its convex outer surface, said ribs being concentric about the circular aperture. 32. A process for forming a circular flying disc comprising the steps of: forming an annular section comprising a thermoplastic material, said annular section having: a generally concave inner surface and a generally convex outer surface; a circular aperture through its center; an inner periphery and an outer periphery; a rim extending around the outer periphery; a flat circular recess disposed on the inner surface of the annular section extending around the inner periphery; and a plurality of spaced apart pegs extending from the flat circular recess positioned around the inner periphery; holding the annular section in a first fixture with the rim of the annular section extending vertically for providing that the pegs extending from the flat circular recess point vertically away from the first fixture; holding a circular retaining ring comprising a thermoplastic material in a second fixture, the second fixture located in opposed relation to the first fixture; placing a circular insert across the circular aperture of the annular section, said circular insert having a plurality of holes therethrough disposed at predetermined intervals around its periphery, the plurality of spaced apart pegs extendingthrough the holes; and fusion bonding the circular retaining ring to the pegs, thereby permanently securing the insert between the circular retaining ring and the annular section for forming the circular flying disc. 33. A process according to claim 32 wherein the circular insert is cloth. 34. A process according to claim 32 wherein the circular insert is a thin film of plastic material. 35. A process according to claim 34 wherein the plastic material is polyester. 36. A process according to claim 35 comprising fusion bonding the circular retaining ring to the pegs by: heating a top surface of each of the pegs until each such top surface is molten; heating a surface of the circular retaining ring until such a surface is molten; bringing the first and second fixtures together for providing that the molten surface of each peg and the molten surface of the ring come into contact with one another; and holding the first and second fixtures together until the surfaces of the pegs and the ring cool, thereby allowing a fusion bond to be formed therebetween. 37. A process according to claim 36 comprising heating the top surface of each of the pegs and the surface of the ring by: inserting a hot circular platen between the first and second fixtures; bringing the first and second fixtures together such that the top surface of each of the pegs and the surface of the ring contact the heated surfaces of the platen for a sufficient time to melt the top surface of each of the pegs and the surfaceof the ring; moving the first and second fixtures apart; and removing the heated platen. 38. A process for forming a circular flying disc comprising the steps of: forming an annular section comprising a thermoplastic material, said annular section having; a generally concave inner surface and a generally convex outer surface; a circular aperture through its center; an inner periphery and an outer periphery; a rim extending around the outer periphery; a flat circular recess disposed on the outer surface of the annular section extending around the inner periphery; and a plurality of spaced apart pegs extending from the flat circular recess positioned around the inner periphery; holding the annular section in a first fixture with the rim of the annular section extending vertically for providing that the pegs extending from the flat circular recess point vertically away from the first fixture; holding a circular retaining ring comprising a thermoplastic material in a second fixture, the second fixture located in opposed relation to the first fixture; placing a circular insert across the circular aperture of the annular section, said circular insert having a plurality of holes therethrough disposed at predetermined intervals around its periphery, the plurality of spaced apart pegs extendingthrough the holes; and fusion bonding the circular retaining ring to the pegs, thereby permanently securing the insert between the circular retaining ring and the annular section for forming the circular flying disc. 39. A process according to claim 38 wherein the circular insert is cloth. 40. A process according to claim 38 wherein the circular insert is a thin film of plastic material. 41. A process according to claim 40 wherein the plastic material is polyester. 42. A process according to claim 41 comprising fusion bonding the circular retaining ring to the pegs by: heating a top surface of each of the pegs until such a top surface is molten; heating a surface of the circular retaining ring until such a surface is molten; bringing the first and second fixtures together for providing that the molten surface of each peg and the molten surface of the ring come into contact with one another; and holding the first and second fixtures together until the surfaces of the pegs and the ring cool, thereby allowing a fusion bond to be formed therebetween. 43. A process according to claim 42 comprising heating the top surface of each of the pegs and the surface of the ring by: inserting a hot circular platen between the first and second fixtures; bringing the first and second fixtures together such that the top surface of each of the pegs and the surface of the ring contact the heated surfaces of the platen for a sufficient time to melt the top surface of each of the pegs and the surfaceof the ring; moving the first and second fixtures apart; and removing the heated platen. 44. A process according to claim 37 or 43 further comprising applying heat to the surface of the circular insert after said insert is secured between the circular retaining ring and the annular section, thereby causing the insert to contract. 45. A process according to claim 44 further comprising the step of applying transparent indicia to the surface of the circular insert. 46. A process according to claim 44 further comprising the step of applying opaque indicia to the surface of the circular insert. 47. A process according to claim 45 comprising applying the indicia to the surface of the circular insert by the steps of: positioning a dye impregnated transfer paper adjacent the insert; and heating the paper, thereby causing the dye to be absorbed into the surface of the insert. 48. A process according to claim 46 comprising applying the indicia to the surface of the circular insert by the steps of: positioning a dye impregnated transfer paper adjacent the insert; and heating the paper, thereby causing the dye to be absorbed into the surface of the insert. 49. A process for forming a circular flying disc comprising the steps of: forming an annular section comprising a thermoplastic material, said annular section having: a generally concave inner surface and a generally convex outer surface; a circular aperture through its center; an inner periphery and an outer periphery; a rim extending around the outer periphery; a flat circular recess disposed on the inner surface of the annular section extending around the inner periphery; and a plurality of spaced apart pegs extending from the flat circular recess positioned around the inner periphery; holding the annular section in a first fixture with the rim of the annular section extending vertically for providing that the pegs extending from the flat circular channel point vertically away from the first fixture; holding a circular retaining ring comprising a thermoplastic material in a second fixture, the second fixture located in opposed relation to the first fixture; placing a circular insert across the circular aperture of the annular section, said circular insert having a plurality of holes therethrough disposed at predetermined intervals around its periphery, the plurality of spaced apart pegs extendingthrough the holes; bonding the circular retaining ring to the pegs, thereby permanently securing the insert between the circular retaining ring and the annular section; and thereafter applying heat to a surface of the insert, thereby causing the insert to contract for forming a circular flying disc. 50. A process according to claim 49 wherein the circular insert is a thin polyester film. 51. A process according to claim 50 comprising bonding the circular retaining ring to the pegs by: heating a top surface of each of the pegs until such a top surface is molten; heating a surface of the circular retaining ring until such a surface is molten; bringing the first and second fixtures together such that the molten surfaces of the pegs and ring come into contact with one another; and holding the first and second fixtures together until the surfaces of the pegs and the ring cool, thereby allowing a fusion bond to be formed therebetween. 52. A process according to claim 51 comprising heating the top surface of each of the pegs and the surface of the ring by: inserting a hot circular platen between the first and second fixtures; bringing the first and second fixtures together such that the top surface of each of the pegs and the surface of the ring contact the heated surfaces of the platen; moving the first and second fixtures apart; and removing the heated platen. 53. A process according to claim 52 further comprising applying indicia to a surface of the insert. 54. A process according to claim 53 wherein applying the indicia to the surface of the insert comprises: positioning a dye impregnated transfer paper adjacent the insert after the insert has been permanently secured between the circular retaining ring and the annular section; and heating the paper, thereby causing the dye to be absorbed into the surface of the insert. 55. A process for forming a circular flying disc comprising the steps of: forming an annular section comprising a thermoplastic material, said annular section having: a generally concave inner surface and a generally convex outer surface; a circular aperture through its center; an inner periphery and an outer periphery; a rim extending around the outer periphery; a flat circular recess disposed on the outer surface of the annular section extending around the inner periphery; and a plurality of spaced apart pegs extending from the flat circular recess positioned around the inner periphery; holding the annular section in a first fixture with the rim of the annular section extending vertically for providing that the pegs extending from the flat circular channel point vertically away from the first fixture; holding a circular retaining ring comprising a thermoplastic material in a second fixture, the second fixture located in opposed relation to the first fixture; placing a circular insert across the circular aperture of the annular section, said circular insert having a plurality of holes therethrough disposed at predetermined intervals around its periphery, the plurality of spaced apart pegs extendingthrough the holes; bonding the circular retaining ring to the pegs, thereby permanently securing the insert between the circular retaining ring and the annular section; and thereafter applying heat to a surface of the insert, thereby causing the insert to contract for forming a circular flying disc. 56. A process according to claim 55 wherein the circular insert is a thin polyester film. 57. A process according to claim 56 comprising bonding the circular retaining ring to the pegs by: heating a top surface of each of the pegs until such a top surface is molten; heating a surface of the circular retaining ring until such a surface is molten; bringing the first and second fixtures together such that the molten surfaces of the pegs and ring come into contact with one another; and holding the first and second fixtures together until the surface of the pegs and the ring cool, thereby allowing a fusion bond to be formed therebetween. 58. A process according to claim 57 comprising heating the pegs and the ring by: inserting a hot circular platen between the first and second fixtures; bringing the first and second fixtures together such that the top surface of each of the pegs and the surface of the ring contact the heated surfaces of the platen; moving the first and second fixtures apart; and removing the heated platen. 59. A process according to claim 58 further comprising applying indicia to a surface of the insert. |