A phrase used to tell an annoying child to be patient. Synonymous with "cool your jets" and "hold your horses".
Freshman - dude, dude, dude, when are you going to give my back my backpack?!

Senior - Hold your pants on.
by Happysquirrel93 April 29, 2009
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When your boss is so exasperated she can't think of what to say when she wants you to shut up!
I can't think, it's so noisy in this room so, Hold Your Pants!
by papa zee 24 April 12, 2011
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