Meaning
To hold on for dear life / To seize an opportunity
Example
Precisamos agarrar essa chance com unhas e dentes!
We need to seize this chance with everything we've got!
Origin
No single documented origin; the image is of an animal gripping its prey with claws and teeth, holding on under all conditions. Attested in Portuguese from the 19th century.
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More idioms
Acertar na moscaTo guess correctly / To hit the nail on the headAmigo da onçaA fake/false friendAndar na linhaTo toe the line / To behave properlyArmar um barracoTo cause a public sceneRodar a baianaTo cause a public scene / To go ballisticArrumar sarna pra se coçarTo ask for troubleArrastar as asasTo hit on someone / To flirtAbrir o jogoTo come clean / To open upArregaçar as mangasTo roll up one's sleeves / To get to workBater as botasTo kick the bucket / To die