User blog comment:MrTyeDye/The Nightmare House (Part 4: Luan)/@comment-32799780-20171009121851/@comment-32799780-20171009161112

Towards the tail end of the movie before the final confrontation with It, there's a scene where Beverly stumbles across a brightly-lit stage where Pennywise does this bizzare jig, never moving his head or taking his eyes off of her. The way you described Mr. Coconuts doing the same thing made me think that it was a deliberate shout-out.