A nickname for Iver Johnson revolvers, particularly small top-break revolvers chambered in .32 or .38, due to the owl head logo on the grip. The revolvers were once extremely popular for carry from the 1880s till the 1950s. This term was very common up into the 1960s used usually by older men, the phrase is seldom heard now. Sometimes used as a name for any Iver Johnson firearm but usually the revolvers as previously described.
Old Fella in the country store telling about his younger days; "That cat was comin' at me with with a pig sticker wantin' my money, so I whipped out my Owl Head and put it to em and leveled him out."
Young Man circa 1900; "I just order a brand new Owl Head revolver out the Sears and Roebuck mail order catalog."
Kid, now; "My great grandpa bought this revolver when he was young and passed it on to me, he was always called it an Owl Head...whatever that is."