Hi @revaappleseed ,
If it is just frayed at the plug end and the rest of the cord is OK, just cut back the cord to where it is OK and re-terminate it back on the plug.
If doing this reduces the cord length too much to be suitable for using the toaster where you want or if the cord is frayed in more locations replace the entire cord. This will involve opening the toaster to get to the cord connections inside.
If the plug is a “sealed” type, buy a new plug from the hardware store. Usually most new plugs have diagrams on the back of the packaging which show how to correctly terminate the wires in the plug. You can also buy cut to length power cord from the hardware store as well