Meaning
To give up / To throw in the towel
Example
Estou cansado deste emprego horrível! Vou chutar o balde e tirar umas férias!
I'm tired of this horrible job! I'm going to throw in the towel and take a vacation!
Origin
The origin is not settled. The most common account traces chutar o balde to a loan translation of the English kick the bucket, an 18th-century phrase in which "bucket" meant the wooden beam from which slaughtered animals were hung — they would "kick the beam" as they died.
Source: Escreva.ai.
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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 workAgarrar com unhas e dentesTo hold on for dear life / To seize an opportunity