We claim the ornamental design for a magnetic toy construction element, as shown and described.
FIG. 1 is a front perspective view of the magnetic toy vehicle;
FIG. 2 is a front elevational view thereof;
FIG. 3 is a rear elevational view thereof;
FIG. 4 is a left side elevational view thereof;
FIG. 5 is a right side elevational view thereof;
FIG. 6 is a top plan view thereof; and,
FIG. 7 is a bottom plan view thereof.
The broken or dashed lines included in the figures depict environment, are for illustrative purposes only, and are not part of the claimed design. The shading illustrated in the figures is provided merely to represent the contour of the design and is not intended to be illustrative of texture, gloss, or surface decoration.