Green’s Dictionary of Slang

1. (US) a derog. term for anyone of Latin or Spanish-American descent.

1980

E. Folb Runnin’ Down Some Lines 55: Most of the pejoratives characterized Chicanos in terms of the foods associated with them [...] tostado, burrito.

2. (US campus) the penis.

1989		P. Munro Sl. U.
1997		K. Kainulainen ‘University Euphemisms in Calif. Today’ 🌐 You do not have to use the word [...] ‘penis’ if you know the word ‘burrito’.