It's been around for a decade now ... for some reason it caught on among the football tailgating crowd 3-4 years ago.
It's just horseshoes for big fat, lazy drunk people.
The sad part is that fairs/bars/events are trying to cash in on the craze by having "cornhole tournaments" with cash prizes. Can you imagine the amount of douchery that surrounds such an event? Ex-jocks that once gravitated toward softball or bowling are now trading chest bumps over throwing a bean bag through a hole in a piece of plywood.