If the toy has been in a very dirty environment, is going to be given to a very young child, or is bought secondhand from an untrustworthy source, you may also want to use a heavy duty soap or even an antibacterial soap. This will kill bacteria more thoroughly. If the toy is stained with dirt or similar substances, you can use a small amount of laundry detergent or borax in the water to get rid of stains. Ask an adult to help you since these materials can harm skin and be toxic.
Place the toy in indirect sunlight on a warm or windy day for about 12 hours. Avoid direct sunlight, as it may discolor the toy. You may also want to hang the toy on a clothesline to aid the drying process. Use a hairdryer on a cool or warm setting (do not use hot, it will damage the toy or catch on fire) for about five minutes, keeping it at a safe distance. Place the toy in a cool and gentle setting in a drier. Make sure to not leave the Beanie Boo in the drier without checking on it regularly- it may become damaged. However, this step will dry the toy thoroughly.
Once dry, brush out the fur to maintain its softness. For an extra touch, you may also want to use a small drop of diluted essential oil on the Beanie Boo for a nice scent.