The spelling of the word "KOBAY" can be explained through the use of IPA phonetic transcription. It is pronounced /koʊbeɪ/, with the stress on the second syllable. The "o" is pronounced as "oh," similar to the sound in "go." The "b" is pronounced as "buh," with a deep, guttural sound. The "a" is pronounced as "ay," with a long "a" sound. Finally, the "y" is pronounced as "ee," with a quick, sharp sound. Overall, the spelling accurately reflects the unique pronunciation of the word "KOBAY."