Here is an ongoing diary of all the terms in Spanish you might run across, for our Anglo friends. Or you could just check the section at Wikipedia.
belleza - n., beauty
cabron (n., lit. “goat”) - cuckold. You know, someone whose S.O. cheats on them.
chingar - v., to fuck. Uses: chinga tu madre (go fuck your mom), te voy a chingar (I’m gonna beat you up), te chingaste (you fucked yourself), ¿que es esta chingadera? (what is this fucking thing?).
chupar - v. to suck. Chupa mi verga is one familiar to most. Chupa Chups are lollipops (suckers, I guess?) from Spain, hence the name.
coño - (n., lit. “rabbit”) - cunt. Only really used in Spain but it’s starting to catch on like wildfire. Not really but it’s a cool word so spread it around!
culo - n., anus. I bet you came from the Anal section of the site and were wondering. A culero is a butt-fucker.
güero/a - adj/n., light-skinned person. It’s also misspelled with an “hu” instead of the g and umlauted u by complete idiots (see che_huero). It’s not pejorative. Example: Alexis Bledel es una chicana güera y bella (Alexis Bledel is a light-skinned and beautiful Chicana).
güey - n., donkey. Dumb person. You can say it in casual conversation to mean “dude.”
joto - n., fag. che_huero is a big joto but I love him.
moreno/a - n. and adj., tanned. From moro (Moor) although it’s not used for black. Not pejorative. Morena is a common girl’s name and Moreno is a common surname. Example: Morena Baccarin es morena de verdad (Morena Baccarin is actually tan).
negro/a - n. and adj., black. Example: Ese vato negro tiene verga grande (that black guy has a huge dick).
panocha (n., lit. “almond paste”) - pussy. A great example comes from the band Sublime, who really nailed the Chicano accent: Me gusta el reggae / me gusta punk rock / pero la cosa que me gusta mas es panochita (I like reggae / I like punk rock / But the thing I love most is a little pussy).
pinche (adj., lit. pertaining to a chef’s assistant) - Modifier roughly equivalent to “fucking.” Examples: pinche cabron, pinche puto, pinche idiota retardada cara de chango.
¿que hubo? (in slang, pronounced like the letter Q then the word “bo”) - what’s up?
verga (n., lit. a ship’s mast) - cock. If you watch Orgasmo, pay close attention to the mariachi band who sound like Depeche Mode at the party singing “mi verga es fea y pequeña” (my cock is small and ugly).