Look: handle smeared with blood (2,3,6)

I believe the answer is:

lo and behold

I'm a little stuck... Click here to teach me more about this clue!

'look' is the definition.
I don't know anything about this answer so I can't judge whether this works.

'handle smeared with blood' is the wordplay.
'smeared with' indicates anagramming the letters.
'handle' mixed up with 'blood' makes 'LO AND BEHOLD'.

Can you help me to learn more?

(Other definitions for lo and behold that I've seen before include "This is new!" , "what a wonderful thing" .)

I've seen this clue in The Everyman puzzle in The Observer.

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