When it comes to hanging, Shakespeare is USUALLY making a joke. He’s usually making a dick joke and/or a joke about execution.
So I’m trying very hard to make this line a joke somehow – even if only a joke at Osric’s expense.
Hangers could also be a reference to balls.
Could carriages as well? I mean – it’s just too good of an opportunity – a totally meaningless conversation about sword paraphernalia and you’re NOT going to include some dirty jokes? I just don’t see how Shakespeare could resist such a thing.
But I also don’t see a way to make this line work in a dirty way with any real likelihood.
I could deliver it as such – but it would require the laughter of Hamlet and Horatio to really sell it.