The constellation was found by a French astronomer named Nicolas Louis de Lacaille when he was searching the Southern skies. He originally named the constellation as la Bousolle, but the Latins renamed it as Pixis Nautica. There is a constellation that some seamen get confused with the Pyxis called Circinus, which is also a compass.
The Pyxis was found on the Puppis, which was a poopdeck on a ship. There was a horrible storm which caused the compass to fall into its own place