Spanish word, usually translated into English as "gay".
But...
The word "mariquita" is much more harmless than calling a person "maricon" or "marica". The ending "-ita" means "little" so the word would really translate into "pansy" or "fairy", much more innocent words.
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.