vs
QUICK ANSWER
"Pateras" is a form of "patera", a noun which is often translated as "dinghy". "Cayucos" is a form of "cayuco", a noun which is often translated as "dugout canoe". Learn more about the difference between "pateras" and "cayucos" below.
la patera(
pah
-
teh
-
rah
)A feminine noun is almost always used with feminine articles and adjectives (e.g., la mujer bonita, la luna llena).
1. (nautical)
a. dinghy 
Los guardacostas interceptaron una patera llena de inmigrantes indocumentados.The coast guard intercepted a dinghy full of undocumented immigrants.
b. small boat 
Muchos refugiados intentaron cruzar el Mar Egeo en pateras precarias.Many refugees have attempted to cross the Aegean Sea on precarious small boats.
el cayuco(
kah
-
yoo
-
koh
)A masculine noun is used with masculine articles and adjectives (e.g., el hombre guapo, el sol amarillo).
1. (general)
a. dugout canoe 
Los locales usan cayucos para transportarse por el río.The locals use dugout canoes to travel along the river.