This goddess is known by various names such as Panchuruli, Pannimukhi, Dandanatha, Vartali, Tantrika Lakshmi, Varahi Lakshmi, Ashtalakshmiswarupini, Samayeshwari, and Night Goddess.

When the asuras, who went to battle under the command of Shumbha and Nishumbha, were defeated, the asura named Rakthabeejan arrived with his Akshauhini army. Seeing this, Chandika Parameshwari emitted a conch sound. From the divine mouth of the goddess emerged Brahmi, from the third eye Maheshwari, from the armpit Kaumari, from the hands Vaishnavi, from the back Varahi, from the heart Narasimha, and from the feet Chamundi.

The Sapta Matrikas are the different forms of Goddess Durga (Kaushika). There is a story that the Sapta Matrikas were created when the goddess struck the ground with her hair. Varahi is also included in the army of Bhadrakali, who was incarnated to defeat Darika. The story of the killing of Darika is famous in the Bhadrakali Utpatti section of the Markandeya Purana. For the killing of Darika, six Shaktis first emerged from the bodies of the gods. The six mothers were Brahmi, Vaishnavi, Maheshwari, Kaumari, Varahi, and Indrani. However, the Shad Matrikas were defeated before Darika. Finally, Sri Bhadrakali emerged from the eye of Shiva. Bhadrakali, also known as Chamundi, along with the seven goddesses, is called the Sapta Matrikas. Varahi is included in this group.

There is a story that when Shiva and Vishnu tried to kill Andhakasura but failed, the Sapta Matrikas, including Varahi, were created. When Andhakasura fell in the arena, and from his blood, another Andhaka was born, the Sapta Matrikas drank the blood of Andhaka, and thus Shiva and Vishnu killed Andhaka. In the sense of punishing those who err, she is called Dandanatha. Since the fifth tithi is important to the goddess, she is also named Panchami Devi. In Buddhism, she is worshipped by the name Vajra Varahi. There are many forms of the goddess, including Kirata Varahi, Vashya Varahi, Laghu Varahi, Nakuli Varahi, Maha Varahi, Ashwarudha Varahi, Matsya Varahi, Mahisha Varahi, Pakshi Varahi, and Simharudha Varahi. The tantra scripture states, "Na Diva Smaret Vartali." It is said that one should not even remember Varahi Devi during daytime. The Panchami tithi is a special day. The fifth day after the white moon (Pournami) and the black moon (Amavasya) is called Panchami. These two days are considered the best for praying to Varahi Devi. Tuesday, Wednesday, Saturday, and Pournami are the main days. Navaratri is significant, especially Ashada Navaratri.