Yes switching toys always works for kids who are bored. I always did it with daycare kids & havent done as good of job w/ Megan though. (We get busy & I forget!) W/ daycare we had a certain box of musical instruments that would only come out once a week - it never got old & kids were excited about it. If they were available all the time then they could have cared less. We had a dress-up box - again about 1ce a week. With the older kids switching up things like barbies, mr. potato heads, legos, etc.
W/ Megan we try to alternate which toys are upstairs or downstairs (she is typically upstairs in the main part of the house) or put some in her closet which she doesnt have access to. This also works for books too - we visit the library and get new books too.
Some libraries have "library kits" which are big tubs of books, toys, craft ideas, etc. If any of you have access to these - they are soooo good! They have a theme (so bears, food, frogs, etc) Each has books only on that theme - and then will have puzzles, puppets, etc, & then craft books or papers that you can copy for coloring or little rhymes,etc. The nice thing is that its constantly something new - and the kids really look forward to it! Some are only for 2 years and up - but sometimes they have things that were ok for 1 year olds. (like hats kit - was great - lots of hats to wear).
Other ideas for bored toddlers - switch up your routine - have a playdate or get out of the house for a while. Put on some music & dance. Wear a silly hat or something really noticeable that your toddler will notice & think is funny.
I have found that with Megan if she is bored that spending 10-15 minutes w/ her before I get my stuff done works better than just letting her whine & be bored. Chasing (I'm gonna get ya!) or tickling. Singing songs or where's your nose? She is then more content to keep herself entertained right afterwards so I can get a few things done.