The temple’s name comes from three devotees of Shiva — Sri (a spider), Kala (a snake), and Hasti (an elephant) — who worshipped the Shiva lingam here with great devotion and attained salvation. According to legend, these creatures symbolized devotion expressed in different ways and were granted Moksha by Lord Shiva. The temple is also associated with the saint Kannappa Nayanar, a tribal hunter whose fervent devotion to Shiva was so profound that he offered his eyes to the Shiva Lingam to stop it from bleeding, gaining divine blessings.

Situated in Srikalahasti town, the temple is considered the “Dakshina Kailasam” (Kailash of the South) and acts as a spiritual hub where devotees perform the Rahu-Ketu pooja to mitigate astrological afflictions. Shiva’s consort Parvati is worshipped here as Gnana Prasunambika Devi after she performed penance to free herself from a curse. The temple architecture is a blend of Pallava, Vijayanagara, and other South Indian styles, showcasing intricate carvings and a majestic gopuram.

Other mythological stories linked to the temple include the liberation of celestial beings and sages, with the temple believed to be one of the few that remain open even during solar and lunar eclipses. The temple complex includes sacred tanks and is near the Swarnamukhi River, known for its spiritual importance.