I am not a teacher, but I am a native speaker.
I am not sure that the whole thing is a complete single idiom. However, there are several idioms used in it. I believe it was constructed for use where you saw it. Here are some parts of it:
"Nose to nose you got your toes in it. Toes to toes you got your nose in it for a tall drink of water."
Nose to nose = Standing in front of someone. Maybe one person is acting aggressive towards the other, but they do not have to be.
You got your toes in it = It can mean two different things. First, it could mean that you have gotten involved in someone's personal business. Second, it could mean that you are trying something new.
Toes to toes = Same as nose to nose, just said differently.
Tall drink of water = Usually means a tall person, or a big person. It could also mean someone who thinks they are a big shot.
I hope this makes sense in the context it was used in. I really can't figure out what it could mean all together just from reading it.
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