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Caramba is a common word used for expressing positive/negative reaction to an event. It's used mainly by people of Latin America (Mexico&Colombia that I know of) but in Portugal as well.

Is used frequently combined with Ay (see examples).

If a translation has to be given, the most proper would be "gee" or "om my god". There is also an opinion which states that caramba is "the nice way to say" carajo,which is used like the slang shit!.
-Ay Caramba!Estos americanos son tan gordos como mi mama!
-Ay Caramba!Those Americans are so fat as my mother.
(apparently the speaker has a fat mother)

-Caramba!Que guapa que estas mamasita!
-Caramba!You're very beautiful mamasita!
caramba by Puffito December 31, 2007
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Most folks, Gringos and Latinos alike, believe that "caramba," ordinarily used as in "Ay! Caramba!" is a euphemism for "Oh, Shit!" but actually "caramba" is what is called a "minced oath" for "carajo," which translates into English as "penis."

Don't believe me? Check out the Wikipedia page for "Minced Oath" and see for yourself. Not that Wikipedia ia always correct, of course, but you make up your own mind. And taking the euphemistic process to even another level, some hispanic people exclaim, "Ay! Chihuahua!" which might seem to be a further abstraction from "penis," but when you think of a chihuahua dog as being long and hairless with wrinkled skin, well...I leave that to you as well.
I say "Ay! Caramba!" because I feel like swearing, and this is more polite than saying, "Oh, dick!"
caramba by Dr Whosis December 7, 2009
a Spanish expression that is the equivalent of "FUCK!" and/or "SHIT!".

<<note:It is actually a very handy word when you can't curse in English since everyone will think you're a foul-mouthed bunghole. Instead, use this word and people either MIGHT be impressed with your Spanish or look at you as if you've gone ga-ga & have no fucking idea what you've just said....OR be a subject of ridicule if you're saying this word around a bunch of Spanish-speaking people.>>
<jose:>Ay caramba! Tu padre esta un maricon hijo de puta?!

<pedro>:NO MIERDA!

Translation:

<1.>:OH FUCK! Your dad is a gay-ass son of a bitch?!

<2.>: No shit!
caramba by The Mike November 23, 2004
A Caramba is another word for a person of latin decent.
Juan is a caramba.
Taquisha is a caramba.
You are a caramba.
Caramba by max69 May 29, 2007
Another word to define police(Carabinieri) in Italy
Ci sono i caramba alla porta ,
( There’s police knocking on the door)
Caramba by Flakckoo May 15, 2018
Italian Slang word used to talk about Carabinieri (italian police force).
Usually in a bad way.
“Those pieces of shit Caramba took all my fumo
Caramba by simoo_._ December 8, 2021

Ay caramba donde esta la biblioteca 

You were no match for my 3 years of spanish
Tommyinnit: I just enabled my hacks
Technoblade: AY CARAMBA DONDE ESTA LA BIBLIOTECA