Green’s Dictionary of Slang

hold it! excl.

also hold everything! hold it right there!
[the subject is supposed to freeze in position. Partridge suggests orig. painters’ jargon]

stop what you’re doing! be quiet! etc.

[[UK]Operative 31 Mar. 11/3: ‘Hold!’ interposed Thomas, ’ he can do no more mischief’].
[US]D. Hammett ‘$106,000 Blood Money’ Story Omnibus (1966) 350: ‘Hold it, everybody,’ I ordered.
[US]R. Chandler ‘Blackmailers Don’t Shoot’ in Red Wind (1946) 85: Macdonald made a motion, said: ‘Hold it . . .’.
[UK]P. Cheyney Dames Don’t Care (1960) 8: Hold everything, here she is.
[UK]C. Day Lewis Otterbury Incident 171: ‘Hold it, you!’ he snarled at them.
[US]R. Prather Always Leave ’Em Dying 44: Hold it, Hunt. Listen to me a minute.
[US]A. Zugsmith Beat Generation 137: ‘Hold it!’ Stan yelled.
[US]P. Thomas Down These Mean Streets (1970) 32: Hold it, kid. We ain’t gonna hurt ya.
[US]T. Southern Blue Movie (1974) 191: ‘Now hold it, hold it,’ Sid protested stoutly.
[[US]D. Jenkins Dead Solid Perfect 28: A Hold It is some kind of a strong lady strolling around with an impressive body and a look of merriment in her eyes. When you see a Hold It on the tour [. . .] you tend to turn quietly to the guy you're paired with and say: ‘Uh, hold it. Hard left. Behind the front bunker’].
[US]J. Ellroy Brown’s Requiem 107: Hold it right there, motherfucker.
[UK]K. Sampson Powder 221: Whoah! Hold it! I don’t have that information.

In exclamations

hold it down!

be quiet! calm down!

[US]D.W. Hamilton ‘Pacific War Lang.’ in AS XXII:1 Feb. 55: hold it down. Keep it quiet, not so loud.
[US]T. Wolfe Electric Kool-Aid Acid Test (1969) 113: Above all, keep quiet, for God’s sake, hold it down, whisper, moan, mumble, meditate.
[US]J. Webb Fields of Fire (1980) 165: Now, hold it down, OK, Burgie? No noise, man.
[US]S.F. Examiner 15 Feb. 35/3: ‘Hey, hold it down, will ya, I’m tryna cop some Zs!’.
[WI]Francis-Jackson Official Dancehall Dict. 24: (H)ol’ it dung avoid getting excited; play it cool: u. big man, hol’ it dung, nuh.
[UK]‘Q’ Deadmeat 86: old it down, bro.
[US]‘Touré’ Portable Promised Land (ms.) 158: We Words (My Favorite Things) [...] Caught out there. Hate me now. Hold it down. Show and prove.
[US]Rayman & Blau Riker’s 183: You keep your mouth shut. You get busted? You got to hold that down, homey.