Cafeliko is a charming and unique diminutive of "café" (coffee), meaning "little coffee." The suffix "-iko" is a less common, endearing diminutive, making the word feel intimate and personal.
In the song, the artist compares the feeling of being with someone to this special "little coffee" that wakes them up, highlighting how essential and comforting this person is to them. It's a creative and memorable way to express affection and dependence.
Jimena Amarillo builds a whole crush out of a morning coffee, and she is completely literal about it. The song opens on "Es como el cafeliko" ("It's like the little coffee") "Que me bebo cuando me despierto" ("That I drink when I wake up"), and the brown of the cup slides straight into the person's face on the next line, "Qué marrón, ojos negros" ("What a brown, black eyes"). Four lines in she has already given up pretending, admitting she cannot look at him "Sin pensar en cómo acariciarte" ("Without thinking about how to caress you").
The chorus is where it gets funny about its own damage. "Cuando me tocas siento que floto" ("When you touch me I feel like I'm floating") sounds like an ordinary love line until the next two arrive: "Tengo el cora' ya que no lo noto" ("My heart is so numb I can't feel it") and "No te preocupes que ya está roto" ("Don't worry, it's already broken"). She is reassuring him that the thing he might break was broken before he got here. By the end the metaphors are gone and she is just asking, "Pon la mano aquí" ("Put your hand here"), "Catalina que si no yo me voy a morir" ("Catalina, because if not I'm going to die"). One day, she says, was all it took.