Azabache is a poetic word for the color jet-black. It's also the name for 'jet', a deep black gemstone, which is why the word evokes a sense of preciousness and deep, shiny blackness.
In the song, ROSALÍA uses this beautiful descriptor for her companion's hair: "Tu pelo azabache" (Your jet-black hair). It's a much more evocative and unique way to describe a color than the common word 'negro', and it adds to the song's luxurious and stylish atmosphere.
"LA COMBI VERSACE" throws high fashion straight into the middle of the street, and it does not care if the two worlds are supposed to mix. Spanish superstar ROSALÍA and Dominican rapper Tokischa spend the entire track bragging about spending cash and looking immaculate on a wild night out. The title itself centers on la combi (short for la combinación, an outfit combination) and the luxury Italian fashion house Versace. They chant about running around together at night, "puestas pa'l derroche" [ready to blow cash], flaunting jet-black hair ("pelo azabache") and draping themselves head to toe in Medusa logos. Highbrow art and fast street life crash into each other constantly: ROSALÍA drops classical composer Tomaso Albinoni right next to an Uzi submachine gun ("Uzi y albinoni"), jokes about pulling up to the ultra-exclusive Met Gala on a pony ("llego a la met en pony"), and name-drops both Gianni and Donatella Versace while tossing hundred-dollar bills, which she calls "benjis" after Benjamin Franklin.
Tokischa takes the wheel in the second half and turns the absurdity up another notch. She treats a local Dominican convenience store like an haute couture runway with the line "desfilamos Dior custom en el colmadón" [we parade custom Dior in the corner store], and talks about riding passenger on a motorbike ("en una cola de motor") in a Gucci thong. Then she drops the best flex of the whole song: she admits she might wear counterfeit gear ("ropa fake"), but calls herself realer than anyone else, shouting out the legendary Harlem bootleg designer Dapper Dan ("me creo Dapper Dan"). For her, thrifted flea-market finds ("flow de paca") hit just as hard as a sapphire choker, because confidence is what sells the look. It is loud, reckless, and funny as hell.