Definition from Wiktionary, the free dictionary
handbag (plural handbags)
- (UK and Canada) A small bag used by women (or sometimes by men) for carrying various small personal items.
- (uncountable) An anthemic subgenre of house music of the late 1980s, often with booming vocals.
Derived terms 
small bag used by women
- (UK) (transitive, humorous) Figuratively, to hit with a handbag; to attack verbally or subject to criticism (used originally of Margaret Thatcher).