In Spanish it can mean two things, depending on which syllable is being stressed.
* está: literally means "is". It's used to refer to someone in third person, and to either describe this person or specify a location
* ésta: literally means "this". It always refer to a feminine subject.
In some latin american countries, the latter is also commonly used to to refer to one's genitalia, specifically (her/him)self's.
Variations of esta:
Maria: Juan está en su casa y está triste (Juan _is_ at his home and _is_ sad)
Luis: Espero que ésta sea la ultima vez. (I hope _this_ is the last time)
Mario: Por qué no venis y me chupas ésta? (Why don't you come and suck _this_?)