According to a Wikipedia article entitled "Spanish Profanity," the literal meaning of the word carajo is "crow's nest," as in the lookout at the top of the mast on an old schooner. This was news to me, and I rather suspect it would be for many speakers of the language. Much more frequently, throughout the great Iberian diaspora, carajo is an insult, a "swear." Its strength and implication varies across the vastness and diversity of latin america, with usages that include approximate equivalents of "oh, sh*t!!" and "go to hell!" Indeed, upon looking for, and then entering the Miami restaurant named "El Carajo," one is apt to exclaim "What the f*ck!?"
Although the owners of the El Carajo combination tapas bar, wine cave and British Petroleum gasoline filling station franchise pay homage to the nautical in their signage--their logo is a flag flying above a masthead roost tilted aslant by a Caribbean breeze--one imagines that they fully embrace the word's many meanings. It takes not a little sense of humor to open a full-on faux-Spanish cava in the back of a generic convenience store. Here the bewildered, walking in to prepay their gasoline, are likely to find, just beyond the cash register and the standard gas-station amenities, a group of men seated on stools around a table, pouring and sampling a selection of Iberian wines, each with half-a-dozen semi-used crystal glasses spread out before him.