The group - comprising Tom Fletcher, Harry Judd, Danny Jones and Dougie Poynter - think it would be "funny" to create raunchy replicas that their male and female fans could buy.
Danny said: "We want McFly sex dolls! I think it would be really funny. I'd buy one. They should definitely be suitable for both guys and girls though."
While the 'Party Girl' hitmakers want their own range of sex dolls, the band won't be following in the footsteps of chart rivals JLS and releasing a range of condoms, as they think their line would probably be "too small" and unsafe for the general public.
Harry joked: "Our condoms wouldn't be very safe. They would be too small for everyone else to even use!"
Danny added: "It's not a good move for anyone if we branch out into condoms."
Meanwhile, Dougie - who has been dating Frankie Sandford for almost two years - claims he won't get engaged to The Saturdays star until she proposes to him.
He exclusively told BANG Showbiz: "I'm waiting for her to ask me. We're new school. We wait for the women to ask us. I'll have a big diamond please!"
However, if the pair do tie the knot in the future, Frankie could be in for a shock, as Dougie admitted he has a penchant for dressing in women's clothes.
He said: "I think I suggested it thinking, 'It's one of those things that'll never happen,' but I turned up today and they had it prepared. I've actually dressed up as a woman quite a few times. It's become a bit of a habit for me. I enjoyed wearing tights!"
McFly performed a secret gig at Heathrow's Terminal 5 on Wednesday night (17.11.10) for the official switch-on of the airport's Christmas lights.
