Designed for the passenger of the vehicle, just before a car accident issues they yell oh Shit! and grab for the handle above the passenger seat door, If the car doesn't have a oh shit! handle the passenger is screwed.
Oh Shit! <grabs The Oh Shit! Handle>
The handle on the roof or up high on the side of a car on the inside that you can hold while going around really sharp turns, etc. but usually never use. When you do use it it is probably during something very dangerous, i.e. drifting around public roads or swerving around deer, and gets its name from the words you exclaim at the times you have to grab it.
"OH SHIT" I said as I grabbed the oh-shit handle when we were drifting around the really sharp turn.