Toslink to 3.5mm??

This is not possible without the use of a converter. Optical audio cables are a digital signal, sending the information in 1's and 0's. 3.5mm is an analog signal. The information is sent in the form of a continuous wave ( I won't go into extreme detail here). In order to go form digital to analog, you must use a converter box, a simple adapter will not work (I shouldn't say that for certain, there may be some custom applications in which it will work, but for the everyday user, it will not).
The idea for the RCA to 3.5mm adapter/cable is probably the best option (providing the TV is equipped with RCA connections) unless you will have a receiver to plug in to.