It is used as a part of the name of many Gods for example, Venkateswara Swamy, Padmanabha Swamy, Chennakesava Swamy etc.
Swamy is also used to address elders and Saints, Sanyasis (monks, ascetics) etc. Swamyji, Swamy ji and Swamiji are also used. ji is a suffix that is used to denote respect. Swamy means Master, owner etc. and the feminine equivalent word is Swamyni or Swamini.
Slang Noun. 1. A hypocrite or loser. 2. A person who lies to be accepted.