A word to jokingly/abusingly refer to the hispanic race. Usually it means friend but in this way it is meant to make fun of their heritage...I guess you can call it sorta a derogative word if used the wrong way.
Person 1: Man, what are those kids doin?
Person 2: Probably jumpin' someone.
Person 1: Recognize anyone?
Person 2: How could I? All those dumb amigos look alike.
Person 1: Ha! Good one mane!