Pinche Madre is an insult in spanish. The first word, "pinche" was originally used to designate the boys who helped the cooks prepare their meals. However in the beginning of the century, this became an insult, used to designate someone who was really useless or a really bad person. Madre means Mother. The full phrase is usually "Hijo de tu Pinche Madre!", which roughly translates as "You son of a bitch", but with a slightly harder edge.
Pinche may be used also in a friendly term, but only with people that you know will not take offense to it.