I was always told that pendejo meant a pubic hair.
Technically, that is correct. Generally means something like "dumbass". First time I heard it was from a Puerto Rican guy in basic training. One thing that makes Spanish tricky is that it is a wordy language. One word in English can have more than one in Spanish. Plus, there is a lot of slang, and ordinary words can have a suggestive or even obscene meaning, and it varies among countries. The common word for get or take in some countries is the F word in others. Somewhere I read that there are 64 words for vagina. Chaqueta means jacket, but in Mexico it refers to masturbation, so they say chamarra instead.
Ten cuidado!