Often used for large or mythical snakes, especially with the reading じゃ. In modern usage, へび can also cover this sense, but じゃ carries a more classical or dramatic tone.
Means 'faucet', literally 'snake mouth', but unrelated in meaning.
Etymology
The kanji 蛇 is a phono-semantic compound, with 虫 (insect/reptile) and 它 (snake). The reading へび is native Japanese, while じゃ is the on'yomi, often used in compounds.