Would it be possible or legal for someone to keep a toucan as a pet?
Would it need an extra-large cage, or would it be happy in one about the size of the average parrot cage?
Could it be fed regular bird food or would it have to eat wild fruits and nuts of the type found in its natural habitat?
I have seen them for sale in California pet bird stores, so I assume the answer to the possible / legal questions is “yes.” I do not know what they eat but a quick googling suggests that they need lots of fresh fruit.
Info on caring for a toucan and where to buy one here.
‘A’, as in ‘one’? No. But toucan! 
Toucans are good songbirds, but they’re better with companions.
Two can sound better than one toucan can.
:smack: 
They’re messy, and don’t have as much personality as psittacines, corvids, or sturnids. And they’re hella expensive. But they’re cool to look at.
It’s definitely possible; I’ve seen two of them that I can recall in bird stores, and there was this restaurant we ate at in Oaxaca which had a small aviary on the patio with a toucan living in it. He seemed pretty tame and friendly.
I don’t think they can be imported into the USA legally, but there’s a market for captive bred ones.
I imagine they’d need a pretty big enclosure – for one thing they aren’t climbers like the psittacines; to get around they need to fly or hop, and that takes a lot of room.
They 're softbills, so they don’t eat nuts or seeds or like that. In the wild they eat fruit and small critters. I reckon pet ones are fed a diet similar to what mynah birds eat in captivity – special softbill chow supplemented with fresh fruit and maybe some mealworms once or twice a week.
I remember seeing a toucan in a pet shop along time ago and asked a few questions. My questions ended when the clerk in the store mentioned that a toucan can shit on you from 6 feet away.
They need WAAAAAY more room than the average pet-owner can provide, as DLuxN8R-13 said. They aren’t really great pet birds for the novice bird owner.
They bite like hell, too.
I had a client who had a large collection of toucans, toucanettes, and other softbills. They are time/labor/cash intensive to keep healthy and happy.
I take it they don’t eat fruit loops huh?

Old Disneyland Jungle Cruise joke:
And over on the left, you can see three toucans. You know what three toucans make, don’t you? A six-pack.
???
I have no experience with Toucans but this FAQ on them suggests they do not bite hard at all (saying parrots are worse). They also mention they do not shit on you from 6 feet away.
Overall they sound (from reading that page) like excellent pets. They also come in many varieties from the biggest (and apparently very affectionate and trainable to the point of potty training them to only go in their cage which seems fantastic) Toco Toucan at 700 grams with a 10 inch long bill on down to an Ivory Bill Aracari at 150 grams.
What little I could gather they are also bloody expensive.
No idea how long they live.
ETA: Also seems a diet of fruits/pellets is sufficient and live food for a pet never (in the wild they may nab some live food occasionally).
Toucans don’t bite. They tend to grunt more than scream. I have owned parrots and dear god almighty they are loud. Toucans, not so much. I have been around a few toucan owners.
The problem is, fruit diet, means liquid poos. Really liquid poos. Nice colors, too.
They are expensive.
I want one. A Toco Toucan.