This year YAPC::Brasil will be held April 19-22, 2006 in Porto Alegre/RS, Brazil in conjunction with the 7th International Free Software Forum. From what I've heard, FISL (I think that's the correct acronym) is a huge OSS event with attendance last year of over 4,000 people. Brasil is very OSS-friendly and I believe they had some major government officials at the conference last year.
Since it doesn't specifically house a "Perl Conference" like OSCON, it makes perfect sense to run YAPC along-side it. Randal Schwartz attended last year and I believe he plans on attending again.