Handbag

wiktionary

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From hand +‎ bag. The music genre is named from women dancing around a pile of their handbags in nightclubs. The verb is a reference to Margaret Thatcher's handbag. [1]

etymonline

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handbag (n.)

also hand-bag, "bag for small articles, carried in the hand," 1854, from hand (n.) + bag (n.).