Travesuras translates to "mischief" or "playful tricks", and is often used in a flirtatious context in Latin music.
When Nicky Jam sings, "Yo te hago travesuras", he is dropping a brilliant Easter egg by referencing his own 2014 mega-hit song of the same name! He does this right after Daddy Yankee mentions his own 1995 classic, "Yamilet", making this entire verse a clever, rewarding callback for fans of the genre.
This song is a fun, playful competition between three huge stars of Latin music: Daddy Yankee, Nicky Jam, and Romeo Santos. The whole idea is that they've all spotted the same woman and are trying to convince her to choose one of them. Each one makes their case based on their famous public personality.
First, they introduce the contestants. There's the guy from the "barrio fino" [nice neighborhood], the smooth talker in a Lamborghini who is "medio loco, con veinte tatuajes" [a little crazy, with twenty tattoos] (that's Nicky Jam), and finally "el chico de las poesías" [the boy of poems] who brings serenades (that's the bachata king, Romeo Santos). The chorus is their direct challenge to her: "Bella y sensual, sobrenatural / Uno de nosotros te tiene que conquistar" [Beautiful and sensual, supernatural / One of us has to win you over]. Daddy Yankee's verse is full of confidence, calling himself "el mejor libra por libra en el ring" [the best pound for pound in the ring] and promising that no matter who she picks, she's won the lottery.