A treatball for storing and dispensing pet treats has an elastic body and is restorably compressible in response to an external force applied to the body and has a plurality of spaced-apart internal baffles. A method of making the treatball includes providing an internal mold, introducing an elastomeric material onto the internal mold, molding the elastomeric material into a shape that is representative of the treatball, and extracting the internal mold through an opening in the treatball. Therein, the elastomeric material has sufficient hot tear resistance to allow the internal mold to be extracted through the opening of the treatball without tearing the treatball.