“Call it a day” means “let’s stop”, “I’ve had enough”, “let’s finish”. Usually associated with work, at some point during the working day someone decides it is time to stop, go home, today’s work has been done, let’s call it a day. Can be used in many other scenarios including studying, chores and even sport or leisure activities. "we played golf all day, then it started to snow, so we decided to call it a day"