The Collaborative International Dictionary of English v.0.48:

Cooly \Coo"ly\, Coolie \Coo"lie\, n.; pl. Coolies. [Hind.
   k?l[imac] a laborer, porter: cf. Turk. k?l, ky?leh, slave.]
   An East Indian porter or carrier; a laborer transported from
   the East Indies, China, or Japan, for service in some other
   country.
   [1913 Webster]

WordNet (r) 3.0 (2006):

cooly
    n 1: (ethnic slur) an offensive name for an unskilled Asian
         laborer [syn: coolie, cooly]