Magic the Gathering XXI: Tap Target Keg

[Sith_Happens]

This is a bizarre request.

I've been rewatching Yugioh recently, and was wondering whether there's any way to do something similar to Pegasus's 'Toon' deck in Magic.

Assuming you mean the version of it from the first arc (as opposed to later when it gets nerfed to match the actual cards more closely), its defining feature is having monsters that can't be destroyed in battle. Or, in Magic terms, creatures that either don't take damage in combat or aren't killed by combat damage.