Your average glow-in-the-dark doodad gets its glow from a phosphor, a member of a group of substances that radiate visible light after being energized. Some phosphors are natural, like ones found in your teeth and fingernails, and chemists have also created hundreds of others. The ones most useful for glow-in-the-dark items are those that can be energized by normal light and have a pretty long persistence (glow time).
Take a phosphor that fits the bill, mix it in with the plastic to be molded into the product, and you have yourself a glow-in-the-dark whatever. Light from the sun or the living room lamp energizes the phosphors in the plastic and excites them, and with the lights off, you can watch as their atoms slowly lose this extra energy in the form of a dim glow.