Spatial trusses in the form of a regular pyramid are a basic configuration of many structures, from carbon nanostructures to geodesic domes used as roof of large spaces. These structures, as the planar von Mises truss, present a highly nonlinear response when submitted to static and dynamic loads. The nonlinearity is particularly significant when these structures are shallow, even when low load levels are applied. This paper presents a exact nonlinear formulation for a pyramidal truss made of n equal bars and analyze the loss of stability and nonlinear vibrations of the structure under static and dynamic loads. To understand to nonlinear behavior of the pyramidal truss, time responses, phase planes, bifurcation diagrams, energy profiles and basins of attraction are used. The results show the importance of the nonlinearity in the dynamics and stability of the structure.