Incorrect spelling, explanation: the form is wrong as when there are two vowels ending the word we only need an -s ending. When there is a consonant before -y, then we change it to -i and add an -es ending. Therefore, the only possible ending here is plays and not playes.

Correct spelling, explanation: the form ends with two vowels and in such a case we add only -s while forming the plural noun or a third form singular of a verb -to play. An -es ending happens only when before -y in a word there is a consonant. Then we change the -y letter to -i and add -es. Therefore, in the case of this particular verb, the only correct form is plays.

Definition of plays:
1. noun (plural form) – a sporting activity or a game,
I was so disappointed with so many poor plays of my favorite team.
2. noun (plural form) – acting in a theatre,
Romeo and Juliet and Hamlet have always been my favorite plays.
3. verb (third-person singular of the Present Simple) – to participate in a sporting activity or to have fun,
John plays tennis with his father twice a week and they get quite competitive about it.

Collocations and idioms with plays:
The wordplay is a part of many English expressions, for example:
1. plays up – to behave in a bad way,
I can’t stand this kid – he plays up every time we meet.
2. plays down something – to make an impression that something is less important or serious than it really is,
Every time I complain about him working so much, he plays it down saying that it is only temporary.
3. plays along – to do something that you may not really like, but somebody asked you to do so for a short period of time,
She has a difficult character, but always plays along with her workmates when she has to.