To be the laughing stock means to be the subject of mockery, but in this context he does not want to be the hero and role model of his fellow tykes.
Consider the statement "She didn't come; he kept calling, wishing for success and not wanting to be the hero and role model of his fellow tykes.". Is the statement "She didn't come; he kept calling, wishing for success and not wanting to be the laughing stock of his fellow tykes." false? Yes/no/unknown