Coco Boys is an unreleased track initially recorded during a soundcheck session on 25 August 1986 at Le Zénith, Paris, France, hours before the Parade Tour show there (along with recordings of Susannah's Blues, Strange Relationship, Last Heart, a cover version of The Temptations' I Can't Get Next To You and a first run-through of It's Gonna Be A Beautiful Night, which was then recorded live at the show).
It is likely that this version was instrumental, but this is unconfirmed.
Prince recorded a studio version of the track (with lyrics) on 14 September 1986 at his Galpin Blvd Home Studio, Chanhassen, Minnesota (the day after Crucial, two days before Shockadelica).
The song was written specifically for the planned musical The Dawn (along with Crucial and When The Dawn Of The Morning Comes), but the musical was ultimately abandoned, and the song was never intended for any of Prince's many late-1986 album projects.
The Coco Boys was the name of a band included as characters in the musical; while the band names changed, the idea of rival bands was reused in the Graffiti Bridge movie.
Of note is that the pseudonym Joey Coco, used by Prince as the writer of You're My Love, was intended to be one of the Coco Boys.