Using CROSS APPLYs (used lengthy names for understanding) -
declare @Table table (SomeColumn varchar(100));
insert into @Table
select 'ball-Orange-small-round' union all
select 'bat-blue-medium-square' union all
select 'stumps-green-large-rectangle'
SELECT * FROM @Table
SELECT Sub1.FirstSub1 AS Item
,Sub2.SecondSub1 AS Color
,Sub3.ThirdSub1 AS Size
,SubAfterThirdHyphen AS Shape
FROM @Table
CROSS APPLY (SELECT CHARINDEX('-',SomeColumn) AS FirstHyphenPos) AS Pos1
CROSS APPLY (SELECT SUBSTRING(SomeColumn,1,FirstHyphenPos-1) AS FirstSub1) AS Sub1
CROSS APPLY (SELECT SUBSTRING(SomeColumn,FirstHyphenPos+1,LEN(SomeColumn)) AS SubAfterFirstHyphen) AS Substr1
CROSS APPLY (SELECT CHARINDEX('-',Substr1.SubAfterFirstHyphen) AS SecondHyphenPos) AS Pos2
CROSS APPLY (SELECT SUBSTRING(Substr1.SubAfterFirstHyphen,1,SecondHyphenPos-1) AS SecondSub1) AS Sub2
CROSS APPLY (SELECT SUBSTRING(Substr1.SubAfterFirstHyphen,SecondHyphenPos+1,LEN(Substr1.SubAfterFirstHyphen)) AS SubAfterSecondHyphen) AS Substr2
CROSS APPLY (SELECT CHARINDEX('-',Substr2.SubAfterSecondHyphen) AS ThirdHyphenPos) AS Pos3
CROSS APPLY (SELECT SUBSTRING(Substr2.SubAfterSecondHyphen,1,ThirdHyphenPos-1) AS ThirdSub1) AS Sub3
CROSS APPLY (SELECT SUBSTRING(Substr2.SubAfterSecondHyphen,ThirdHyphenPos+1,LEN(Substr2.SubAfterSecondHyphen)) AS SubAfterThirdHyphen) AS Substr3