My brother's always bought those net bags made to hold your shampoo and such. They'd put the toys in those and either hang it from the shower head or bought the hooks on suction cups and hung the bag on the wall over the tub. The bag keeps them out of the way yet also allows them to dry.
I used to use the net bags with the suction cup holders in my bathroom when my children were babies. I also had purchased some dish pans for like $2 at Walmart. Except they had holes in the sides. So when I put all the wet toys back in the tub, the water would drain. It would prevent mildew from growing on the toys.
Recently, I saw my cousin organizing her baby's bath toys in a hanging fruit basket in her bathroom. I found it cool, the basket hangs taking lesser space and the toys are organized at the same time. Hope it works for you too.