2) The combination between the words sweet and sexy; usually used to describe the fun and flirty characteristics of something.
2) The perfume was swexy.
The best example of "swexy" is in the Jill Scott song, "Exclusively":
"He was lickin, and suckin on everything, just the way he should. This morning’s extra lovin was good. We lay there sweaty, sex funky, happy as we want to be."
2) After a particularly passionate round of sex, one partner said to the other, "Man we're swexy!"