I wouldn't recommend it. If you keep playing like that the dog will lunge and grab at the toys all the time. It will teach it that it is ok to take things from people like that and it may start grabbing things it isn't supposed to. Also, you can end up getting hurt that way. I was playing ball with my puppy the other day and she grabbed for the ball (she normally doesn't) when I picked it up and she ended up giving me a cut on my thumb. If it was a child or an elderly person, there could have been more damage than that because their skin is more sensitive.
So like I said, I wouldn't recommend it. If the pup ended up hurting someone, they might not be so understanding and want the dog put down.
Also, you don't want to teach it to jump. It might start jumping on people and that can be dangerous (knock someone over) or embarassing (like jumping on people and getting them dirty).
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