Make a momentary switch control a toggle
Here's another alternative with two inverters and debouncing:



For logic output, only the two inverters, RC, and feedback resistor are needed:



NC7WZ14 is $0.06 with 2 inverters, small 6-pin package, and Schmitt trigger inputs, though I think this circuit doesn't even need Schmitt inputs because of the RC.  Also it can drive 24 mA, so you could connect the LED directly to it if you're using an LED for whatever reason.

Also shown here and here as a toggle touch switch.

I think the feedback resistor has to be much smaller than the center resistor to prevent it from oscillating if you hold down the button, because the low-impedance connection to the output will prevent the capacitor from charging to the middle voltage until you let go.

Variants are described at Press ON - Press OFF soft latching circuits: