As far as clothing went, when I was little everyone had "Jordache" jeans and then it was Guess clothes with the logo on everything (I had like 5 hideous over-sized Guess sweatshirts) but I still have my Guess jean jacket, LOL. Esprit and Benetton were really popular too.

As far as trends went, a lot of kids wore like all these different Swatch watches on their arms (like how many do you need to tell time?).

Jelly bracelets in all sorts of colors were wildly popular but they didn't have the same connotation that they do now. All black jelly bracelets were popular a la' Madonna.

Some of the toys that I remember that were super popular were
Cabbage Patch Kids (that was pure insanity, people actually being hospitalized from being trampled when the doors opened at Toys 'r Us)

little miniature arcade versions of games like Pac-Man and Donkey Kong

Rubix Cubes (never solved one)

I'm sure I'll remember more but those are just a few...