Functioning off of Toon Logic, Toon is a creature that is for all intents and purposes, immortal. Which she has taken advantage of to become a children's entertainer. Her acts include the sort of antics cartoon characters would get up to. Can only be hurt by a highly specific blend of acid, as a reference to the movie Who Framed Roger Rabbit.
Yes, the toon logic also allows her to walk across massive gaps, as long as she does not look down.