Spanish is spoken in 20 different countries all over the world: in Latin America, Europe and Africa.
This means that there are a lot of different varieties, which translates into lots of different ways to call things. This is one example, do you know any others?
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In Buenos Aires in Argentina they say “bondi” instead of “colectivo” or “autobus”. 
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“Guagua” in Ecuador = niño
“guagua” in the Canary Islands = bus
“bicho” in Ecuador = insect, parasite
“bicho” in Honduras = little child
It was funny when I told a friend from Honduras that here in Ecuador I have a lot of “bichos” in my home. He was quiet surprised 
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Haaa, this must be my favourite part about learning Spanish… To discover and collect all the specific expressions from each country and compare them 
The funniest moment for me was when I realised my friend from Peru was using the word paja to discribe something really cool, and for my Argentinian friend it meant literally the opposite, like a load…
“Que paja que estes acá !” 
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In Perú we say “micro” or “combi” 
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Hahaha, @SKrausser! In Colombia they also use “guagua” for bus in some regions!
I found this on Wikilengua:
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