You will have six cases:

1)x>0,y>0,x>y

2)x>0,y>0,x<y

3)x>0,y<0

4)x<0,y<0,x<y

5)x<0,y<0,x>y

6)x<0,y>0

For each of the above cases, you will get a different line(and hence region). Graph all these six lines and you will be able to graph the inequality.