In South America, there is a high connection between seasonal rainfall and El Niño/La Niña teleconnection, but not every drought event is high correlated with changing sea surface temperatures at the Pacific ocean.
In the Atlanctic sector (Amazonia, Northeast Brazil, the La Plata Basin), ENSO may be important for droughts/floods. but the Tropical Atlantic plays a very important role. The drought in Amazonia in 2005 was not related to El Nino but due to warm tropical North Atantic Waters, while the droughts in 1912, 1926, 1983 and 1998 were related to ENSO and also to warm tropical North Atlantic waters. Abundant rainfall in Northwest Peru seems to be well correlated with ENSO.
In addition you can see spatial distribution of climatological probabilities (seasonal averages) of trecile rainfall in S.America at IRI map room - http://iridl.ldeo.columbia.edu/maproom/ENSO/Climate_Impacts/ENSO_PRCP_Prob_TS2p1.html?bbox=bb%3A-90%3A-60%3A-30%3A15%3Abb&T=Nov-Jan&Tercile=dry
Mason, S.J. and L. Goddard, 2001: Probabilistic precipitation anomalies associated with ENSO. Bull. Amer. Meteor. Soc., 82, 619-638
El Nino events are highly correlated with droughts in the tropics. Bigger El Niño events lead to more widespread severe drought in the tropics. However, at any particular location there is variability that may be due to other ocean temperatures or just chaos in the climate system. The paper below addresses the relationship between El Niño and drought.
Lyon, B., 2004: The strength of El Niño and the spatial extent of tropical drought. Geophys. Res. Lett., 31, L21204, doi:10.1029/2004GL020901.
Depend o the region, but in the case of Amazonia while some droughts are related to El Nino, others do not, because the tropical Atlantic is the leading mode of variabiulity.
It depends, indeed, on the region of the planet you reffer to.
In South America, more precisely Brazil, drought (and extreme precipitation) events have been positively related to ENSO in regions of the Amazon, south, center-west and northeast of the country. It is important to be aware that this relation IS NOT valid for the southeast region of Brazil, according to recent studies. Therefore the question needs to be carefuly analyzed before answering. Hope this helps! Cheers!