P.I.HUNT 5/Dull Boy

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Spoiler warning: Solution follows

This puzzle is intended to be reminiscent of the I Spy picture books. The bottom clues can be decoded to the following phrases (which match the syllable counts and subtle matching punctuation / capitalisation):

I spy a yo-yo, a carrot, a spoon,
and the word NO side ways, and a balloon.

A butterfly, 2 boomerangs, a tear drop,
the Eiffel Tower, and a lollipop.

Connecting these items form (somewhat malshaped) arrow heads that point to the PICTURE and the BOOKS respectively, indicating the intended answer to be PICTURE BOOKS.