Te la pelaste is a classic Mexican slang phrase that literally translates to 'you peeled it'. Its real, idiomatic meaning is 'you blew it', 'you screwed up', or 'you lost your chance'.
In this breakup anthem, Xavi sings "Yo que te quería para siempre, te la pelaste y ahora next" (I wanted you forever, you blew it, and now, next). It's a powerful and confident way to tell an ex that they made a huge mistake and lost their opportunity with him. Learning phrases like this is key to understanding real, everyday Spanish beyond the textbook.
This song is all about getting over a sudden, painful breakup. Xavi starts by remembering how great things were at the beginning, singing, "Todo empezó tan bonito" (Everything started so beautifully). But it didn't last. He feels betrayed, realizing the other person was just a heartbreaker with "putas intenciones / De andar rompiendo corazones" (foul intentions / of going around breaking hearts).
But is he going to sit around feeling sad? Nope. His solution is to move on, and fast. The pain will pass, he says, "Con un Clase Azul y un pinche par de morritas" (With a Clase Azul tequila and a couple of girls). He's got money to spend and plenty of options. His message is clear: "Si tú no quieres, quieren cien" (If you don't want me, a hundred others do). He thought it was forever, but she messed up. In his words, "Te la pelaste y ahora next" (You blew it, and now, next).