From the mind of Projoy via The Banter Page: "One person sets a conventional hangman problem, but only other players are allowed to reveal the letters or add lines to the scaffold. Other players take guesses in turn as to which letters are in the word. The players who arbitrate over what letters are in the word are not allowed to confer. The shape of the word can only emerge through tacit mutual consent - via, in other words, the collective consciousness." (Winning move is "hanged")
It's actually a seafarer's corruption of "aft-o-keel", the front beam of the ship's hull. "Aft-o-keel-hauling" was the pirate's worst punishment, where they strapped you to the front of the ship and rammed you into whatever galleons happened to be passing.
Would that it were, would that it were. Nay nay nay. So, well, we have a word that's frequently uttered but never writ, a piece of nautical architecture, or a high-profile governmental regulatory unit. So, well, so, across to the other team and a turn of speed if you would.