Answer: According to the California Poison Hotline web site the holly berries (Ilex) are toxic and will cause illness (vomiting and diarrhea), but they do mention that just one or two berries probably would not hurt you. However, it is always a good idea to teach children not to eat ornamental plants. Many of them are in fact quite toxic. Here is the website if you want to read further. You may need to cut and paste the complete url into your browser to make it work correctly.
I hope this helps.
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