Pet companions can positively impact children’s well-being and socio-emotional development. However, various social conditions and material constraints can prohibit many children from having a pet companion. Robotic pets are potentially one way to provide such children with access to benefits similar to living pet companions. Children aged 5 to 11 years participated in this mixed-method study to identify the key elements that underlie children’s engagement with and attachment to animals, toys, and pets, alongside the potential impact of social factors. The findings outline the features most relevant to and best suited for effective robotic pet companions for children.