Meaning - A Little/A Little Bit
And it's chotto (ちょっと) not choto and choto does not mean a person of Japanese descent nor does it mean a person of Asian descent who acts "crazy like a Japanese person".
Choto is used in a few Spanish speaking countries like Spain and Argentina and the meaning varies from a man's penis to someone being stupid to something being of bad quality.
Chotto omachi kudasai (ちょっとおまちください.) - Wait a moment please.