This hoverboard doesn't have any unlockable upgrades.
Toucan is the second limited hoverboard in Subway Surfers, which was released in Subway Surfers World Tour: Rio. Like any other hoverboard, it protects you from crashing for 30 seconds. When crashed, the hoverboard will explode and needs to recharge for a few seconds before using again. The board has a picture of a toucan's head in a full-sized view on it.
It is one of the boards that are not available in their editions' re-releases. They have been Replaced by Birdie and Medal respectively.