A series of novel structured latex particles with interpenetrating polymer network (IPN) cores and glassy SAN shells were developed in an attempt to investigate the feasibility of these polymers as both toughening and damping agents in thermoplastics. The IPN cores were composed of one impact part (polybutadiene based) and one damping part (acrylic based, with T-g around +10 degrees C). The particle morphologies of these polymers were determined by TEM. The glass transitions and mechanical behavior of the polymers were characterized from DMS. The effect of different components on the final core/shell particle morphologies and mechanical properties was studied. The mechanical behavior of core/shell particles with IPN cores was also compared with that of separate core/shell and multilayered core/shell particles. In addition, normal core/shell synthesis (rubbery part first then the glassy part) and inverted core/shell synthesis (glassy part first then the rubbery part) were performed to provide another access for morphology control. It was found that the core/shell latex particles with poly(butyl acrylate) based copolymers are more miscible than poly(ethylhexyl methacrylate)-based copolymers. The high grafting efficiency of poly(butyl acrylate) plays an important role in governing phase miscibility. The latex particles synthesized by the inverted core/shell mode showed higher miscibility than the normal synthesized ones.