We describe our contribution to the Strict and Strict-Small tracks of the 2nd iteration of the BabyLM Challenge. The shared task is centered around efficient pre-training given data constraints motivated by human development. In response, we study the effect of synthetic story data in language pre-training using *TinyStories*: a recently introduced dataset of short stories. Initially, we train GPT-Neo models on subsets of *TinyStories*, while varying the amount of available data. We find that, even with access to less than 100M words, the models are able to generate high-quality, original completions to a given story, and acquire substantial linguistic knowledge. To measure the effect of synthetic story data, we train *LTG-BERT* encoder models on a combined dataset of: a subset of *TinyStories*, story completions generated by GPT-Neo, and a subset of the *BabyLM* dataset. Our experimentation reveals that synthetic data can occasionally offer modest gains, but overall have a negative influence on linguistic understanding. Our work offers an initial study on synthesizing story data in low resource settings and underscores their potential for augmentation in data-constrained language modeling. We publicly release our models and implementation on our GitHub.