Intraseasonal (IS) variability in South America is analyzed during the cold season using 10-90 day bandpass filtered OLR anomalies (FOLR). IS variability explains a large percentage of variance and exhibits maximum values over Paraguay, northeastern Argentina, and southern Brazil. The leading pattern of FOLR, as isolated from an EOF analysis, (Cold Season IS pattern, CSIS), is characterized by a monopole centered over southeastern South America (SESA) with a northwest-southeast orientation. CSIS activity induces a large modulation on daily precipitation anomalies, especially on both wet spells and daily precipitation extremes, which are favored during positive (wet) CSIS phases. Large-scale OLR anomalies over the tropical Indian and west Pacific Oceans associated with CSIS are similar to those linked to MJO. In addition, large-scale circulation anomalies in the Southern Hemisphere exhibit evidence of Southern Annular Mode (SAM) activity as well as of Rossby wave-like patterns. Positive precipitation anomalies in SESA are favored during wet CSIS phases by the intensification of a cyclonic anomaly located further south, which is discernible over the southeastern Pacific for at least 14 days before CSIS peaks. The cyclonic anomaly evolution is accompanied by the intensification of an upstream anticyclonic anomaly, which remains stationary in the southeastern Pacific during the days before the CSIS peak and then extends poleward over the Antarctica Peninsula. We speculate that the stationary behavior of the anticyclonic center is favored by a hemispheric circulation anomaly pattern resembling that associated with a negative SAM phase and a favored wavenumber 3-4 pattern at middle latitudes.