Meaning
To chip in / To pass the hat
Example
Que tal fazermos uma vaquinha para comprar alimentos e ajudar aquela família?
How about we chip in to buy food and help that family?
Origin
The most common story places this in early 20th-century Rio de Janeiro football: fans would pool coins in a hat before a match, and whoever scored the winning goal got the collection — sometimes used to buy a cow ('vaquinha') to be butchered for a team cookout. The 'little cow' stuck as the word for the collection itself.
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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