The agility and ease of control make a quadrotor aircraft an attractive platform for studying swarm behavior, modeling, and control. The energetics of sustained flight for small aircraft, however, limit typical applications to only a few minutes. Adding payloads - and the mechanisms used to manipulate them - reduces this flight time even further. In this paper we present the flying monkey, a novel robot platform having three main capabilities: walking, grasping, and flight. This new robotic platform merges one of the world's smallest quadrotor aircraft with a lightweight, single-degree-of-freedom walking mechanism and an SMA-actuated gripper to enable all three functions in a 30 g package. The main goal and key contribution of this paper is to design and prototype the flying monkey that has increased mission life and capabilities through the combination of the functionalities of legged and aerial robots.