What's the point?

Jelly, 14 bytes

Ṡḅ3ị“Y4X13X2YO

Try it online!

How it works

Ṡḅ3ị“Y4X13X2YO    Main link. Input: [x, y]

Ṡ                 Apply the sign function to both coordinates.
 ḅ3               Convert the resulting pair from base 3 to integer.
                  Because of how base conversion is implemented in Jelly, this maps
                  [a, b] to (3a + b), even if a and b aren't valid ternary digits.
                  Therefore:
                      [0, 1]   ->  1
                      [1, -1]  ->  2
                      [1, 0]   ->  3
                      [1, 1]   ->  4
                      [-1, -1] -> -4
                      [-1, 0]  -> -3
                      [-1, 1]  -> -2
                      [0, -1]  -> -1
                      [0, 0]   ->  0
   ị“Y4X13X2YO    Retrieve the character at that index from the string.
                Indexing is 1-based and modular in Jelly, so 1ị retrieves the
                first character, -1ị the penultimate, and 0ị the last.

Ruby, 35 bytes

->x,y{%w[OY X14 X23][x<=>0][y<=>0]}

Leveraging the "spaceship" (<=>) operator.

x <=> 0 will return

• 0 if x == 0
• 1 if x > 0
• -1 if x < 0

Hence,

• if x == 0, we return 'OY'[y<=>0]. This is

  • O if y == 0 (string indexing at 0)

  • Y if y != 0 (this is true because both 1 and -1 will result in Y when indexing on this string, as -1 refers to the last character in the string, which also happens to be the one at index 1)

• if x > 0, we return 'X14'[y<=>0]. This is X if y == 0, 1 if y > 0, and 4 if y < 0 (see explanation above).

• if x < 0, we return 'X23'[y<=>0].

JavaScript, 44 bytes

(x,y)=>x?y?x>0?y>0?1:4:y>0?2:3:'X':y?'Y':'O'

f=(x,y)=>x?
            y?
                x>0?
                    y>0?1
                    :4
                :y>0?2:3
            :'X'
        :y?'Y':'O'

document.body.innerHTML = '<pre>' +
    'f(1,-2) -> ' + f(1,-2) + '<br>' +
    'f(30,56) -> ' + f(30,56) + '<br>' +
    'f(-2,1) -> ' + f(-2,1) + '<br>' +
    'f(-89,-729) -> ' + f(-89,-729) + '<br>' +
    'f(-89,0) -> ' + f(-89,0) + '<br>' +
    'f(0,400) -> ' + f(0,400) + '<br>' +
    'f(0,0) -> ' + f(0,0) + '<br>' +
    'f(0,1) -> ' + f(0,1) + '<br>' +
    'f(0,-1) -> ' + f(0,-1) + '<br>' +
    'f(1,0) -> ' + f(1,0) + '<br>' +
    'f(-1,0) -> ' + f(-1,0) + '<br>' +
    'f(1,1) -> ' + f(1,1) + '<br>' +
    'f(1,-1) -> ' + f(1,-1) + '<br>' +
    'f(-1,1) -> ' + f(-1,1) + '<br>' +
    'f(-1,-1) -> ' + f(-1,-1) + '<br>' +
'</pre>';