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/Sounds like "PEEN" (as in "pea") + "goh" (as in "go")/

Meaning

A horse, especially a working or riding horse. In the Southern Cone pingo is an affectionate, slightly nostalgic term for a good horse, the kind gauchos depend on.

Examples

He saddled up his horse at dawn.

That horse runs like the wind, it's a beauty.

Regional synonyms

Cocaine, the most common colloquial term for the drug in Argentina and Chile. Used casually and without drama in street-level vocabulary. Likely derived from "mercancía" (merchandise), treating it as just another product to buy and sell.