Caperuza literally means "hood" or "cowl", but in this context, it's a direct reference to the famous fairy tale character Caperucita Roja, or Little Red Riding Hood.
In the song, the singer casts his lost love as Caperuza and himself as the predatory "lobo" (wolf) who is searching for her. This clever use of a well-known story adds a dark, dramatic layer to the song, painting a picture of a dangerous and compelling relationship.
In "Caperuza," Fuerza Regida flips the classic fairytale of Little Red Riding Hood (Caperucita Roja) into a messy, late-night heartbreak story. The singer plays the desperate wolf ("Soy tu lobo, animal" [I'm your wolf, animal]) searching for his lost "Caperuza." He admits he lied to her in the past, so she packed her bags, hit the party scene with friends to drink and "sin," and completely ghosted him for three nights straight. He calls their relationship bizarre and toxic: "Este amor es anormal" [This love is abnormal].
What makes this corrido tumbado fun is the blunt Mexican slang and petty family drama. When her father angrily calls him out—"Pregunta tu papá 'Cabrón, ¿qué le hiciste a mi niña?'" [Your dad asks, 'You bastard, what did you do to my girl?']—he talks right back to the older man in his head, sighing that the daughter cheated: "Supiera, viejón, que me hizo chivo su niña" [If you only knew, old man, that your girl made a fool of me / cheated on me]. The phrase hacer chivo specifically means making someone a cuckold or stepping out on them. Paired with words like pisteaste (you drank booze) and the frustrated sigh chale (damn it / what a bummer), the song gives you real, unfiltered street talk while the narrator accepts that this toxic romance is finally dead.