Yes, POLYPS is a Scrabble word!

Letter values in Scrabble US: P 3, O 1, L 1, Y 4, P 3, S 1.

Is it a valid word?

POLYPS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a small vascular growth on the surface of a mucous membrane
one of two forms that coelenterates take (e.g. a hydra or coral): usually sedentary with a hollow cylindrical body usually with a ring of tentacles around the mouth