Piquetúa is a fantastic example of Puerto Rican slang that you'll hear in a lot of reggaeton songs. It's the feminine form of piquetúo and is used to describe a woman who has a lot of pique—a unique mix of style, swag, confidence, and attitude.
In "Moscow Mule," Bad Bunny sings, "Me gustan así, piquetúa" (I like them like that, stylish/with swag). He's using this word to praise her sharp sense of style and confident way of carrying herself, making it a powerful and trendy compliment.
Bad Bunny kicks off his album Un Verano Sin Ti with this absolute banger about a secret, no-strings-attached hookup. He and this girl have a very specific arrangement: they don't text each other first, and they keep things low-key. He says, "No somos nada, pero estamos envueltos hace rato" (We're nothing, but we've been involved for a while). It's all about keeping it casual and secret, like when he mentions "Whatsapp sin el retrato, no guarda mi contacto" (Whatsapp without a profile picture, you don't save my contact). It's all very "underwater" as he puts it.
The whole song is a build-up to a wild night. Bad Bunny is super direct about his intentions, telling her "Dos tragos y sabes que me pongo bellaco" (Two drinks and you know I get horny). He's not trying to be romantic; he's promising a good time and a physical connection that's so intense she won't forget it. The vibe is all about escaping boredom and living in the moment, fueled by a few Moscow Mules and the promise of some serious perreo.