Check out Dominical, CR.

There's also Puerto Viejo, Costa Rica.

I'm not a surfer, but Tamarindo and Mal Pais seem to get a lot of surf talk.

The Fodor's guidebook mentions Tamarindo, Playa Guiones, Samara, Mal Pais, Jaco, Playa Hermosa, Esterillos, Manuel Antonio, Dominical, Pavones, Playa Negra, Salsa Brava, and Playa Cocles. If you want descriptions of any of them, I'd be happy to key it in for you. These are all in Costa Rica.

Cheaper to rent/buy when you get there than to fly your own

www.papagsurf.com good info

www.malpaissurfcamp.com

Pavones CR some of the longest breaks in the world

Lots of othe options in El Sal Nica Panama

I personally don't like Tamarindo much. It is so, so crowded there compared to other spots. I think Playa Guiones, in Nosara is great, but I'm biased as I live here. Samara touts itself for surfing, but if you are real surfers, forget it. Samara is for beginners only, not much waves at all, much better for swimming than surfing. Salsa Brava can be good on the right swell, but not many places to stay if at all, besides a resort there. Playa Hermosa outside of Jaco, Dominical, and Mal Pais are all great places for backpackers and surf. Povones is excellent too.
Pass through Manuel Antonio for the park and wildlife, but no surf there.
You two will love backpacking Costa Rica!

El Salvador is becoming more popular with surfers.

http://www.wavehunters.com/el-salvador-surfing/elsal_surf.asp

I don't surf, so can't comment, but I can speak about the country. It really is beautiful, and to most Americans, undiscovered. The people are friendly and make you feel very welcome. It's also more affordable than Costa Rica, which I find has gotten quite expensive lately. There are some issues with crime, so you'll need to be careful about where you stay, driving at night, etc.

The beaches on the west coast of El Salvador, El Tunco for a more nightlife and El Zonte for more kicked back. Check out www.theotherelsalvador.com for links to places to stay.
Robert Broz
Suchitoto, El Salvador

Can't recommend Gigante, Nicaragua enough. Beaches are fantastic, surf in the area is arguably the best in Central America due to the prevailing off-shore winds coming off lake Nicaragua, sculpting the waves daily. People are very friendly and there's a growing community of expats providing great food and lodging along with some good local options.

It's relatively close to the PanAm and Costa Rica, so it's a great place to spend a week or so on a long Central American tour.

Back packing options are good, I can give some recommendations based on your budget in the area if you let me know what you're looking for nightly.

Panama's Bocas Del Toro is a great winter spot. Costa Rica is a bit crowded for my tastes these days, but I would definitely go back to Pavones if I had the chance. I don't have any experience with El Salvador and Belize but I've heard great thing about both.

here's a site with some Gigante info and photos: gigantenicaragua.com

El Tunco in El Salvador was great, not many gringos more locals which was awesome. http://trekkertracks.blogspot.com/2009/03/el-salvador-san-salvador-la-libertad-el.html

San Juan Del Sur in Nicaragua also had some great beaches http://trekkertracks.blogspot.com/2009/04/san-juan-del-sur-nicaragua.html

I have also surfed in Puerto Viejo Costa Rica which was great but you have to hit it during the season otherwise the waves are not so good. Also done Manual Antonio Costa Rica, good place to learn and beautiful but not as cheap as El Salvador or Nicaragua

Had a fellow backpacker report that Tamarindo in Costa Rica was not very good (we surfed in Nicaragua together) she said it should be called Tamagringo. Expensive, crowded and touristy.

try the beaches in western panama base in david panama and head to barqueta beach about 22 kms from bambu hostel a surfer friendly hostel, also there are great surfing beaches in Santos province I like playa Venado and is a favorite of surfers from panama city there is an awespme eco hostel across the street from the beach

bambu hostel is www.bambuhostel.com surfer info available at the hostel

I'd say for Nicaragua, you HAVE to check out this awesome town called El Transito. The waves are really fun most of the time and theres a surf hotel there run by a company called GreenSurf Nicaragua. I found them online, their website is GreenSurfNicaragua.com. I just emailed them when I was in Leon, and took a bus there the next day. I definitly reccomend it. Good prices, good food, good waves and all. Stoked!