It is often used to refer to:
* Children: "Los chiquitos están jugando en el parque" (The little ones are playing in the park).
* Small objects: "Tengo unos chiquitos zapatos nuevos" (I have some new little shoes).
* Things in general: "Las casas chiquitas son más baratas" (Small houses are cheaper).
The word "chiquitos" can also be used in a more informal or affectionate way, similar to "little ones" in English.