These shortened forms are used in everyday speech

Abue is short for abuelo/abuela of grandfather/grandmother
Bici is short for bicicleta or bicycle
Cole is short for colegio or high school
Cumple is short for cumpleaños or birthday
Doc is short for doctor or doctor in English
Fut is short for fútbol or soccer
Guate is short for Guatemala
Hospi is short for hospital or hospital in English
La “U” is short for universidad or university
La muni is short for municipalidad or municipality
Nica is short for nicaragüense or Nicaraguan
Pana is short for panameño or Panamanian
Papi is short for padre or father. In Costa Rica Papi can also be used as a term of endearment for one’s husband, boyfriend or small boy.
Peni is short for penitenciaría or penitentiary
Poli is short for policía or police
Porfa is short for por favor or please
Presi is short for president
Profe is short for profesor or teacher
Prosti is short for prostituta or prostitute
Refri is short for refrigeradora or refrigerator
Tele is short for televisión or television
Tico is short of costarricense or Costa Rican
Guachi is short for guachiman or watchman

There are many more.

Tiquismos of the week:

• Tener más colmillo que un elefante – to be astute
  
• Tener más concha que una tortuga – to be shameless
• Tener más fe que San Roque – to be optimistic