Is it an evergreen? Or maybe an Aspen Tree?

Dracaena or "Dragon Tree" there are several types of Dracaena, yours is the species Marginata. It is listed as mildly toxic to pets and children.

Mildly toxic as in make them sick or kill them? I had a site with toxic plants but it's not listed on there.
And thanks, I knew it wasn't an aspen or evergreen. LOL I call it my baby coconut tree. I've actually had people believe me and ask if when it produces the mini coconuts could they try one. LOL

I want a mini coconut :) That would be awesome. are they magical too?

Depends on what kind of magic you are looking for sid... lol. I'm sure there is something out there that can make you see little coconuts...

How toxic is mildly toxic? Will it make them sick, skin rash, or worse? Basically should I remove it from the living room just to be safe?
Thanks

If they were to eat a bunch they might throw up.

Thanks so much! I was worried about it. The baby mostly leaves it alone (he shakes it and messes with the rocks mostly), but I'm worried one of these days he'll get curious and taste it. Now I'm not as worried. At least it will just make him little sick, nothing major.