You should find that the airflow spools the toilet paper off the roll, sending it flying high in the air and emptying the roll in seconds. This is quite (a) funny, (b) spectacular and (c) ecologically unsound... so we're not recommending you do it too often. But it's fun while it lasts.
This is an example of the Bernoulli effect, where fast-moving air is at a lower pressure than the slow moving air around it. In this case the air from the leaf blower is at a low pressure. When you bring the toilet paper close to it, the high-pressure air beneath it lifts the paper and shoves it into the air stream. It's accelerated by the air stream, and that sends the arc of paper spooling out across the playground.
Make sure the cardboard disc guards your hand from the fast-spinning toilet roll. It's possible to collect a nasty friction burn if you're not careful. A leaf blower is a power tool so make sure you follow its instructions and this should be done outside. It isn't advisable to point the leaf blower at someone.
Source: NESTA
Date: 12 October 2007
Subject: Physics Engineering
Suitability: Over 16s Professionals Teachers