It’s a drag hydroplane. I named it so that it would confuse the announcer ie. that boat’s in the lead (or more usually second). To keep up the theme I named a ski boat I had at the time THIS BOAT and a tin (alloy) boat I had THE OTHER, so I had This That and The Other.
The ski boat I have now is called WHITE BOAT, ok not very imaginative but descriptive. It looked so plain, just all white (an 18’6″ Everingham with a 454). So just before Xmas one year I cut out some vinyl and presto a name.