This is the 262nd most frequent Spanish word.
vamos
"Vamos" means "we go" or "let's go."
In this case, 'vamos' is used as a command or suggestion in the first person plural to express 'let's go'.
¡Vamos al parque para jugar fútbol!
Let's go to the park to play soccer!
Here, 'vamos' is part of the construction 'vamos a' which introduces an action in the near future, equivalent to 'going to' in English.
Si seguimos así, vamos a ganar la carrera.
If we continue like this, we will win the race.
In this sentence, 'vamos' indicates progress or the state of doing well in something, commonly used as 'we are doing'.