no its a old wives tale well known wives tale and yes just for fun it doesn't work as the other wives tales listed bellow
If you pick a chick up with two fingers by the neck, the pullets will draw their legs up to their body and the cockerels legs will dangle.
Hold your chick on their back in your hand. If they stop kicking after a short time, it's a pullet, if they keep kicking it's a cockerel.
Needle and Thread - dangle the needle over your chick ... if it moves around and around it is a female, if it swings back and forth it is male - this is supposed to work for both chicks and eggs.
