Meaning
To buy a pig in a poke / To be ripped off
Example
O anel era falso, coitada, comprou gato por lebre!
The ring was fake, poor thing, she got ripped off!
Origin
The phrase literally means "to buy a cat instead of a hare." It dates from times of war and scarcity, when meat was dear: skinned, a cat and a hare are alike in size and shape, and dishonest merchants would marinate cat meat to mask its smell and pass it off as hare.
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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