Caguama pronounced ca-wa-ma. 32 ounces(940ml) of beer. Usually Tecate, Carta Blanca, Victoria, Corona Familiar Pacifico or Sol. not 40oz cuz mexican beer doesn't come in that size. a Caguama is a sea turtle(loggerhead). That's how the bottle is shaped like a little turtle, if your drunk enough. In Spainish Caguama is translated to English as simply turtle.
by timmy21 June 14, 2008
This is a type of tortoise, but in mexico it is slang for a 40oz beer of Carta blanca.
Sacalas cuaguamas! Me voy a poner bien pedo!

Bust out the 40s! I gonna get good and drunk!
by El Caguamero March 18, 2004