Apparently it's from an obscure phrasal verb (hook it = escape?), but not all English speakers use "play hooky". There's also "play truant", and the phrase I grew up with was "wag school". But if you wag school, someone might bust you and dob you in! :D

Hi May "Play hooky" is a term most often used when someone intends on being absent to work or school. It has been used in other situations but work / school are the most common.