Often found in SUVs. If the driver is going too fast, you will grab for the oh crap strap for stability.
See also oh shit handle.
Jess started accelerating before we got to the bump so I grabbed the oh crap strap and kissed my ass good-bye. We flew through the fuckingair at 70 mph!
What you say the moment you realize you blew it, sometimes even when you didn't screw up beyond. It's always said or thought before an imminent mishap, like falling down the stairs, or breaking something in which case more severe profanity is utilized immediately afterwards. By now you know what I mean. It's also an expression of embarrassment.
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.