Toole lit up the Super Rugby Pacific competition in 2023 with nine tries in his first full season in the 15-player code, earning Australia A selection in the lead-up to last year's World Cup.
But the sevens convert has been linked with a switch back to his old format for the Paris Olympics should he not earn Wallabies selection for the home Tests against Wales and Georgia in July.
The 23-year-old acknowledged he'd had conversations with Rugby Australia about a potential return but wouldn't detail where he'd left things regarding that move.
"It could be a possibility, I've had a couple of chats," he said.
"Nothing too serious just yet, it's a long time away, it's four months away, so we're just focusing on the season ahead.
"I'm just fully focused on the Brumbies this season, who knows what's gonna happen at the end of the season.
"I'm just trying to play the best footy I can each week."
Toole played for Australia at the 2022 Commonwealth Games in Birmingham where he scored two tries and helped the side to a fourth-placed finish.
Australia sevens coach John Manenti recently stated his desire to have the speedster back should he miss Wallabies selection, declaring he could be one of the world's best three players if he prioritised that code.
Toole had conversations with Wallabies staff throughout 2023 regarding what they wanted to see from him moving forward and hopes he can break into the line-up under new coach Joe Schmidt.
"Early on, they said I've just got to get involved a little bit more in games, be strong defensively and need to play consistent footy," he said.
"Hopefully, I might get a chance this year if I put my best foot forward.
"(The Olympics) are just in the back of my head. I'm not thinking about it too much, I don't dwell on it a lot but I do know it's around the corner.
"But first and foremost, we've got the Super Rugby season, which I'll be focusing on."
