huacho

huacho/a - huérfano, orphan. Probably an important theme of Chilenity. In one of Julio Pinto's history books on Chile, I read that in 1900, something like 45% of Chileans were orphans. This could have a significant impact on Chile's culture.

But anyway it's pretty typical to call your friend huacho or huacha here, or even better huachita o huachito.

¿Cómo estay, huachita?
¿Bien y voh?

How you doing, hun?
Good, and you?

No lloris más, washa pelá. -- This is like a modern refrain. I can't remember where I heard it. It might be part of a song.
It literally means, "Don't cry anymore, bald orphan." But it's usually said with affection.

other spellings of huacha: washa, guacha

*Huacho can have a negative meaning if said with another tone.
"un huacho culiado" is a "fucking bastard"

So just be aware how you use it. To be on the safe side, it's better to use "huachita, huachito".

Chilenismo, coloquial