Born in Bari, Italy, to Serbian parents, she moved with her family to Argentina before relocating to Mexico. She became an actress in the 1970s and made several lucha libre movies, some of them with superstar El Santo. Starting in the 1970s and through the early 80s she obtained roles in several sexicomedias films, where she wore little or no clothing. She also participated in four telenovelas and had a starring role in Una mujer marcada (A tainted woman, 1979). In 2005, she returned to films, working in The End of Silence, a Canadian independent film.
In the 1970s she maintained a relationship with then President of Mexico, José López Portillo who was still married to Carmen Romano, with whom he had three children. López Portillo obtained a divorce from Carmen Romano and then married Montenegro in 1995. It is said that she exerted gender violence against her husband, but she admits only that she slapped his face once. Montenegro battled with López Portillo for access to him and his fortune during his final years. When he was hospitalized with pneumonia in 2004, her visits with him were limited by his children from the previous marriage. During this time and amidst divorce proceedings with Montenegro, López Portillo died.