I had the Johnny Eagle "Lieutenant" .45 . . . it was a startlingly realistic copy of a GI .45, and had a magazine that held 7 (?) rounds. The rounds were individually spring-loaded, and you could put a Greenie Stick On Cap on the back. Basic mechanical function was just like a 1911, except of course you had to manually rack the slide for each shot. Pull the trigger, the hammer snapped down, and a firing pin hit the back of the spring-loaded case and the bullet went flying out the muzzle. If you were lucky, the cap went off, too.
Also had a "Dick Tracy Power Jet Gun", a toy shotgun that functioned with roll caps if you pulled the trigger, and as a squirt gun if you pumped the slide.
Had a bunch of others that were neat, but these two stood out as my favorites. Looked pretty realistic, too. (The shotgun was small and kid-sized, but the pistol was pretty close to life size.)
(If I were still 7 years old and got one of the neon-colored abominations they sell today, I'd probably spend some time with a magic marker making it look more realistic.)