"We were on our usual route along an area called Parkside. The dogs were a bit excitable as we turned round a corner because there were two men playing with a drone and they're scared of them.
"Galaxy really likes people so he was bounding around and then he came towards us and we were like: 'Oh my god, what has he got?'
"We couldn't believe it. He was so proud when he brought it over to us. We were looking at it thinking: "That's impossible". It was enormous.
Me and Amy were in stitches. We would normally put things in the bin if the dogs pick them up but Galaxy carried it round for about half an hour.
"We thought we'd better let him take it home and show it to his owner, Ami, but I found it so funny I couldn't even explain what it was.
"She took a look at it and by that point there was three of us girls standing around laughing at a dog with a dildo. It was all quite bizarre."
Natalie runs pet services business Ruby's Walkies, and had taken 3-year-old Galaxy out on Friday afternoon along with cocker spaniel-poodle cross Barney, 2, Cavalier King Charles spaniel-poodle cross Wilson, 1, Jack Russell-poodle cross Skeeter, 4, and cocker spaniel Poppy, 8.
Upon their return, Galaxy's owner, Ami Harrison, 30, promptly placed the rubber item in the bin - but only until her husband Ste, 37, returned home from work with other ideas.
His football club, Vulcan FC, hosted a fundraising tournament at Hart Common Golf Club on Sunday afternoon, and Galaxy's find was presented to the winning pair - Ste and his playing partner Billy Johnson.
The impressive "trophy" is now on display at The Wargrave Inn alongside other titles won by the Vulcan FC, whose players frequent the pub.
Ste, a plumber, said: "I came home from work and when I heard what the dog had found I knew I needed to get some picture to show my mates.
"I'm on the committee at the football club and thought I'd bring it along to the golf day for a bit of a laugh.
"I ended up being in the winning pair. We posed for some pictures and now it's on display at the pub we all go to. It has been washed.
"I've never known him to bring back anything like that before. At least I hope he hasn't."