http://apnews.myway.com/article/20091215/D9CJNOG80.html
Two coconuts. That leaves six of his tentacles free.
The 3rd tentacle held a bottle of Jamaican rum.
The 4th tentacle held a can of pineapple juice.
The 5th tentacle held a glass.
The 6th tentacle held another glass.
And that still leaves two tentacles free if Mrs. Octopus decides to get frisky.