Meaning
To cost an arm and a leg
Example
Eu adoraria comprar uma Ferrari, mas elas custam os olhos da cara.
I'd love to buy a Ferrari, but they cost an arm and a leg.
Origin
The most-cited story places the phrase in the conquest of Chile: Spanish conquistador Diego de Almagro lost an eye in battle, and the expression of something being 'worth an eye out of the face' entered Iberian folklore. The phrase predates Almagro in Latin ('oculum pro oculo'), but the Iberian version with this image stuck.
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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