In French, the word "coco" is slang for "communist", in the same way that "commie" is used in the English-speaking world.
This slang word has other meanings, including "cocaine".
This word is sometimes used by the satirical newspaper "Le Canard Enchaine", similar to "Private Eye" in the United Kingdom and "The Onion" in the USA.
Example from the www.rue89.com news website:-
"A Limay, jeune frontiste affronte vieux coco"
This could be translated as:-
In Limay (a town not far from Paris), young far-right supporter confronts old commie".