"Hold my purse" - now she on the floor, droppin' like it's hot

from Chance The Rapper (Ft. Childish Gambino) – Favorite Song Lyrics on Rap Genius

Meaning

Sometimes girls just can’t hold it in; if they hear their “jam” playing, they will stop everything they’re doing and start dancing to it. She gets her boyfriend, (that Gambino just mentioned), to hold her purse while she goes dumb to Gambino’s music, (her favorite song).

This is similar to another Gambino line in his song American Royalty. It’s also a reference to Snoop Dogg’s Drop it Like it’s Hot.

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