Arequipe can be translated as dulce de leche or caramel.
I came to know this word when I was traveling through a nearby city. I was hungry and cranky, and all I wanted was a chicken parm sandwich. Of course, there was nothing of the sort nearby. In fact, there were only vendors selling sweet things around me. Due to the lack of options, I begrudgingly walked up to a little old lady selling arequipe. She pulled our a large, paper-thin sheet of wafer cookie and smeared on a healthy portion of arequipe and whipped cream. As soon as I took the first bite of this, I was in heaven. While it didn’t fully satisfy my hunger, it did make be a bit less cranky.
See a picture of the snack here: http://www.google.com/imgres?imgurl=http://25.media.tumblr.com/tumblr_lm4v9pfppH1qfvdizo1_500.jpg&imgrefurl=http://www.tumblr.com/tagged/arequipe?language%3Dpt_PT&h=406&w=500&sz=61&tbnid=BsNo4pgK30QobM:&tbnh=100&tbnw=123&zoom=1&usg=__YYR8B6mzb063cHqBa50qktTmxbM=&docid=eVzxoWkUtl5WtM&sa=X&ei=hI3yUeDiDuPkyQH_koAQ&ved=0CDcQ9QEwAw&dur=461