hang it—(interj.) is used to emphatically express one’s anger, irritation, etc. (also: hang it all):
- “Oh hang it,” he exclaimed—in no logical connection with what he had been relating to me.
hang it up—
1. (coll.) cease an activity or effort:
- We used to own a dairy farm but decided to hang it up and enjoy life and our kids.
2. (sl.) give credit:
- The Colonel muttered something to the barkeeper about “hanging it up.”