Some primal termite knocked on wood
And tasted it and found it good
And that is why your Cousin May
Fell through the parlor floor today.
     - Ogden Nash

Is it an ant or is it a termite?

You can distinguish between the two by comparing the antennae, wings and waists. Winged termites are usually only about 1/8 inch long, have straight antennae, and no 'waistline'. Their wings are long and of equal length.

Ants are often several times larger. The have 'elbowed' antennae, and three distinct body segments, with very slim waist. The front wings are much longer than the back ones. Termites break off their wings; ants do not.

Telltale signs . . .

If you haven't seen a swarm, it could be because they're easy to miss. Also, termites may not swarm at all. There are other signs you can watch for, though, like discarded termite wings on the floor beneath doors or window sills.

Termites build mud tubes for shelter when moving from one food source to another, and are another sign of activity inside and outside of the foundation.