A coconut shy (or coconut shie) is a traditional British game frequently found as a sidestall at funfairs and fêtes. The game consists of throwing wooden balls at a row of coconuts balanced on posts. Typically a player buys three balls and wins when each coconut is successfully dislodged. In some cases other prizes may be won instead of the coconuts.
The word "shy" in this context means to toss or throw.