There are enough of these floating around that the TSA has felt the need to clarify the term - and give some helpful advice - on its blog last year:
Sword + Cane = Sword Cane. These seem to be a very common item and the majority of people who possess them had no idea there was a sword in their cane. Tip - if you have a second-hand cane, try pulling it apart. You might be surprised. The latest one was discovered at Akron (CAK).
Recently, agents at New York's LaGuardia Airport found what is without doubt the coolest sword cane we've ever seen. It's got a snake head for a handle:
Cool, but scary.