This phrase is often used to refer to:
* A water spirit or deity: In various Latin American cultures, Dame Agua is a mythical figure associated with water sources like springs, rivers, and wells. She is often believed to control the water's flow, offering protection and prosperity, or bringing misfortune and hardship.
* A woman associated with water: The phrase can also be used figuratively to describe a woman who is connected to water in some way, perhaps a swimmer, diver, or someone who works with water.
It's important to note that the specific meaning of "Dame Agua" can vary depending on the context and the cultural background of the speaker.