My informant is from a family that lived in rural Georgia (the US state, not the Eurasian country) for many generations. She learned of this game from her mother, and later played it with her own children. It’s known colloquially as “Hull Gull”, and it is a guessing game. This is the variation that my informant is familiar with:
Someone holds a few objects in each hand, usually candy. They close their hands into fists and hold them out to another person, the guesser. They say “Hull Gull, hands full” and the guesser has to choose a hand and guess how many objects are in that hand. If they are correct, they receive whatever is in that hand. If they are incorrect, the other player (the one holding the objects) gets to keep whatever was in their hands.
This game is exciting to play because one has the prospect of earning candy or other trinkets, but the possibility of failure keeps it exciting. Further research indicates that it was first publicly shown in 1961 on the Ed Sullivan show, but it could potentially have roots further back. I am also unsure whether or not this is a specifically southern American game, but this is the only context that I have ever heard of it.