Hold Your Pants
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!
Hold Your Pants On
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.
Senior - Hold your pants on.