A swung dash is a punctuation mark that's used in place of a missing word and looks like a wavy hyphen (~). Dictionaries commonly use the swung dash to refer to the word being defined.
A dictionary entry for "cat" might include the sentence "It's raining ~s and dogs." The swung dash is standing in for the word being defined, rather than repeating that word again and again. Some grammar experts also refer to the punctuation mark meaning "approximately" as a swung dash, while others call it a "tilde." If you're not sure exactly how much is in your piggy bank, you can use a swung dash to write "I've saved ~$50."