For spicing up a Mexican meal, moving on from the catch-all hot sauces like Tabasco (which generally taste pretty good with a variety of foods, including Mexican food), Cholula is a great place to land. The primary distinction that separates this sauce from the above-mentioned vinegar-based sauces is a thickness that more closely resembles a finely blended salsa. Cholula's main contender in this space is Tapatio, and you will often see both bottles going head to head on tables in both mom-and-pop taquerias and larger Mexican food chains. Other lesser (but occasionally quite distinctive) brands like Pico Pica, Bufalo, and La Victoria can't hold a candle to Cholula.
Against the competition, Cholula is a far more complex sauce. It tastes like a notable blend of peppers was added to the mix and generally comes off significantly more fresh than even Tapatio. A slightly higher price point also suggests that a little more effort is put into the production of the sauce, and the packaging, which includes a wooden cap, is far more appealing than anything next to it on the shelf.