Shake Your Booty games are located under Score Mode. There are 15 tracks to complete. The game itself requires you to pull the left or right triggers when the bunnies reach Rayman (i.e. to the beat of the music).
Once you select a track, you will have the option to hit X for Scores. Do this twice and it will show you how many in-game points you have to complete to receive the full 1000 challenge points. Take 70% of this, and you'll know what your target in-game score is to beat the 700 challenge point threshold. You can also do this after completing the song to confirm your current highest challenge points total.
Some things to keep in mind when trying for this achievement:
1. The tracks get harder as you move to the right on the main picture.
2. Make sure to master the basic track before progressing to Parts 2, 3, etc. The song will be the same for parts 2 and 3, it will just have more 'notes'.
3. Combo multipliers rule the day. You build a combo by earning consecutive 'perfects' (white light). 'OKs' (yellow light) and 'misses' (red light) will break your combo. You'll earn a x2 for 10 'perfects' in a row, x3 for 20 more in a row after x2, x4 for 30 more in a row after x3, etc.
4. Blue bunnies (where you have to pull triggers at the same time) are worth double points. Make sure to 'perfect' these.
5. Try to be perfect up through the 4th or 5th (of 9) wave. I've found that perfecting the beginning will give you room to make a few errors in the later waves.
Achievement will pop as soon as you get over 700 on all 15 tracks.