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It can have many meanings in latin-america
One of them is for insult Gay people, And the most common just for insult
Racist Guy: Look at that nasty mexican

Enrique: Shut up Puto
Puto by The Lawbreaker November 6, 2020
Mexican swear word can be usedpor gay people or as a insult
Hey pinche puto, Ese wey es bien puto, El es puto
Puto by AXNER December 11, 2021
Means a lot of things other than the surface level which simply implies calling someone a fag or a cunt.

1.- Dude (among friends)
2.- Coward, pussy, sissy, etc.
3.- Unwilling, nonparticipative, negligent, etc.
4.- Passive demeanor to a hostile situation
5.- Someone quick to respond in an erratic manner due to a perceived threat or just being scared of something in general
6.- Someone who isn’t upfront

7.- Someone who doesn’t put their money where their mouth is
8.- Someone who is always on to you
9.- Someone who is a nuisance
10.- An NPC
Dile a ese puto que no este mamando.

Literal English: Tell that faggot not to be sucking.

Actual thing: Tell that fucker to fuck off.
Puto by Mrbigglesworth123456 November 27, 2023
Puto Pie is a nickname for colombia's most famous drug cocaine
Guy1: Hey Guy let me get some of that puto pie ?

Guy2: 40 $

Guy1: perfect
Puto Pie by Jesus3.0 February 24, 2010

Puto San Guelo 

The Legend of Puto San Guelo:

Puto San Guelo is a demon who visits teenaged boys and men in the middle of the night, on the first new moon in the Spring, and tries to suck thier penis. According to the legend, if Puto San Guelo sucks your penis, you will become impotent (or your penis will shrink, or you will become gay -- there are several variations).

To protect yourself from Puto San Guelo, you need to cover your genitals in some way on that night, such as with a suitably sized cup or athletic supporter ("ball cup").
When I was younger, my Latino freinds used to tell me of the Legend of Puto San Guelo. Some would actually wear athletic supporters to bed on that night.