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Family name Caraballo (Caraballo ) , all around the world, is a common cognomen. The last name Caraballo is characteristic of Latin America and the Caribbean, particularly Puerto Rico, where it is a common surname, the Dominican Republic, where it is quite a common surname, and Uruguay (explore the name in all countries). Measured by absolute frequency, it most frequently occurs in Venezuela, the United States, and the Dominican Republic. Much less frequently, Caraballo is the forename as well as the last name.