The term 'Holey Utensil' refers to two kitchen tools that are used for sifting and straining. The first tool is a SIEVE, which is a utensil with a mesh bottom and small holes that allow liquid or small particles to pass through while keeping larger particles out. The second tool is a STRAINER, which is a utensil with a mesh bottom and larger holes that allow liquid to pass through while keeping larger particles out. Both of these tools are used to separate solids from liquids, making them essential for many cooking tasks.