I've done a mommy timeout, too. Sometimes I feel like I am the one who need it.
We also do toy timeouts but we usually do it for toys she doesn't feel like cleaning up. I'll give her a few chances to clean up the toy but if she refuses, rather than battle to force her to clean up the toy, I just say cheerfully that I'll clean it up and then the toy goes into timeout on top of the entertainment unit for a few days. She can see it but not play with it. This is usually for toys with lots of parts not just dolls or simple stuff.
Jeannine