The invention discloses a novel temperature-variable school boy vinyl toy mold and a production process thereof. The mold comprises a mold body, wherein a round head is arranged at the upper part of the body, two arc-shaped eyebrows, namely a left eyebrow and a right eyebrow, are arranged on the upper left and right sides of the head, respectively, two ears, namely a left ear and a right ear, are arranged below the eyebrows, an upper body is arranged at the middle of the body, two arms, namely a left arm and a right arm, are arranged on the left and right sides of the upper body, respectively, a schoolbag is arranged at the left arm, Chinese characters meaning making progress every day are arranged on the school bag, the upper body is provided with clothes, and a belly button is formed in the lower part of the upper body. The production process comprises the steps of raw material processing, mold shaping, demolding and subsequent toy processing, namely firstly, combining temperature-variable powder with raw materials of a toy body together, uniformly stirring the temperature-variable powder and the raw materials by virtue of a stirring machine, and then adding the raw materials mixed with the temperature-variable powder into the mold for mold shaping.