In the "Roadrunner" cartoons, the coyote is out to get the roadrunner. (A coyote is like a small wolf, a roadrunner is a small bird that can run quickly). The coyote is hunting or stalking the roadrunner. The coyote wants to catch the roadrunner, kill it, and eat it.
Figuratively, among people, it means that person A is stalking or hunting person B and wants to do person B harm.
Teacher: "I have my eye on you! If I catch you texting on your cell phone again, I'm confiscating the phone and giving you detention!"
Student to friend: "It's unfair! The teacher is out to get me!"