What phrase does the following represent? HANGING PRANCER DASHER COMET CUPID LIFE

Question

Autumn
Ear 1: "What?"
Ear 2: "Pardon?"

Answer 1

hanging on for dear life

hanging <== "HANGING", which is on:
for <== (the names of) four (of the fabled Santa Claus's)
dear <== (rein)deer ("PRANCER", "DASHER", "COMET", and "CUPID")
life <== "LIFE"