Grabbing our crotches
Yelling what up?

from Raekwon (Ft. 2 Chainz, Common, CyHi The Prynce, D'Banj, Kid Cudi & Pusha T) – The Morning Lyrics on Rap Genius

Meaning

Raekwon and his crew are street at heart. While other rappers (ahem, Kanye) take a high society approach to things, Kwon keeps it real and holds his pants up like a man.

In another sense, “having someone by the balls” is a common expression for when you’ve put someone in an extremely difficult decision and essentially have their fate/balls in your hands.

I heard Eminem had a similar problem

Staring at my jeans, watching my genitals bulging
That’s my motherfuckin' balls, you’d better let go of ‘em
They belong in my scrotum, you’ll never get hold of 'em!

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