FIG. 1 is a front isometric view of a positioning element for construction toy in accordance with the new design; FIG. 2 is a back isometric view thereof; FIG. 3 is a side elevational view thereof; FIG. 4 is a front elevational view thereof; FIG. 5 is a back elevational view thereof; FIG. 6 is a top plan view thereof; and, FIG. 7 is a bottom plan view thereof.