Caballón
[kˌaβaʎˈon]
Magnificient; outstanding; of the highest quality or admirable virtue. Expression of awe and approval.
This is an informal or distorted superlative of "horse", or stallion. It would literally translate as "big horse". Also used as "perrón" [peɾɾˈon]- "big dog", to the same effect.
Meaning or origin
It’s not very clear, but it likely refers to the horse one rode in war: the bigger, the better. In the case of "perrón", also a bigger dog has better chances over a smaller one.
Application
When admiring an object, or comparing the qualities of something, you use "caballón" to state that something is above everybody’s expectations. It may be about the object in general, or a particular detail. It is not used to describe a person as a whole, but it may apply for particular qualities, such as the hairdo or strength.
That beard is fantastic! - "Esa barba está caballona!"
Further examples
The movie was boring, but had great visual effects.
La película estaba aburrida, pero tenía efectos visuales caballonesThe landscape is breathtaking.
El paisaje está caballón.Original / awesome dancing steps.
Pasito perrón.