This is a racist or demeaning word used for Filipinos. It's a word that have been used by americans to describe a person from the island of the Philippines. It's is pretty much the same thing as calling them Negers. It is very sad to say that natives from the Philippines now used this word to describe themselves or their people, little do they know the true meaning of the word. A minority of Filipinos do not like to be called Pinoy as they know the true meaning of this word and prefers to be called Filipino.
On the other hand most Filipinos think that to be called "PINÓY" is fun, pride, is a cool way to call themselves because the word originated from the U.S.A and has the notion that anything from the U.S.A. is a good thing and is hip. But they do not know, of course, that the monicker "PINÓY" is a coinage, made in the USA, fromparts of two words: PIN from "PhilipPINe" and OY from "unggÓY" meaning "monkey", "chimp" or "simean".
Thus, the literal meaning of the name PINÓY is a "monkey from the Philippines" PINÓY is also an offshoot of the American lyrics for the tune of "No te Vayas a Zamboanga" which goes" "For monkeys have no tails in far Zamboanga".. .. popularly sang during the American invasion and occupation of Las Islas Filipinas.
This vile minority of Filipinos, which is demonstrably ignorant, if not stupid and corrupt from the start and to the core, is the only one who in fractured English denies that the Filipino is Hispanic.
That pinoy/pinay needs to go back to their jungle.
Meaning: That monkey needs to go back to their jungle.