This rarely comes up. The only fairly common one I've seen is the idea that Brazil could either inherit a Portuguese colony in Africa, or start a small one themselves during the Scramble. That and a map idea posted long ago in which Mexico has colonised New Guinea...but I digress.
Suggest some scenarios in which the nations of Latin America have overseas colonies by the year 1910, with a POD after 1810. I impose this stricture so they are recognisable Latin American countries, although you can have things like Grand Colombia or the United Provinces of Central America if that helps.