Peda is a colloquial and somewhat informal term in Spanish, often used in Mexico, that refers to a state of being very drunk or a heavy drinking session, similar to a "bender" or "spree" in English.
In the song, the lyrics say, "Y nos ponemos la peor peda de la vida" (And we get the worst drunk of our lives). It's an interesting word because it's not a formal term for intoxication, but rather a common, expressive slang word that adds a touch of playful rebellion to the search for love.
Río Roma's "Si No Lo Encontramos" is a fun, upbeat anthem about the universal quest for love, even after past disappointments. The lyrics acknowledge that "Nadie sabe dónde está el amor" [Nobody knows where love is], but that doesn't stop the search! The singer admits to having "mil flechas haz fallado" [missed a thousand arrows] and even giving up a few months ago, but he's ready to try again.
The song playfully explores different scenarios for finding love. If it's at the beach, they'll wait for the tide to go down, and if not, "a otro lado nos vamos" [we'll go somewhere else]. If love is at a party, they'll get two bottles of tequila and have "la peor peda de la vida" [the worst drunk of their life] – and if that doesn't work, again, "a otro lado nos vamos." But my favorite part is when they decide, if love is being stubborn, "Pues mejor tú y yo lo hacemos" [Well, then you and I will make it]. It's a sweet and funny take on taking destiny into your own hands!