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2.
Pronunciation: 'es-pE
Funcation: Noun
n. pl. ESPYs

1. An annual award for outstanding achievement in sports given by ESPN.
2. ESPYs may also refer to the awards show. Similar to Tonys or Oscars.

Stands for "Excellence in Sports Performance Yearly".
The ESPY Awards were created by ESPN in 1993.
by Brent_LA July 08, 2005
 
1.
An award show where fans vote for the winners of numerous sports categories.
Ex. 1:Justin Timberlake is hosting the 2008 ESPYS

Ex. 2: Tiger Woods won the best golfer award at the ESPYS
by The Blackk Mamba July 10, 2008