The word "Pinocchio" does not exist in the Italian language, but the word's literal translation means "pine eye." Pinocchio is a fictional character's name derived from two Italian words, "pino" and "occhio," which mean "pine" and "eye" respectively, according to Reverso.
Pinocchio is the name of the main character from "La Storia di un Burattino" (The Story of a Marionette) by Carlo Collodi. The puppet is made of pine wood by Geppetto. According to Discovery, this serialized magazine story was later turned into "The Adventures of Pinocchio." The character's name implies that the puppet was made out of pine, so he has "pine eyes."