Can be used in a variety of places and occurrences. The slang term 'standard' derived from a boy called Gashman who had very small muscles. He refereed to his bicep muscles as "standard arm muscle". The phrase then caught on, and now 'standard' is used more commonly.
Moreover, 'standard' can be used when describing someone's mistake or misdemeanor. It can be used in place of the other common phrase 'school boy error'.
Dude: "Ohhh standard!"
Dude 1: "Dude you are so standard"
Dude 2: "Yeah and solid."
Dude 1: "That is so below standard."
Dude 2 (who forgot his/her school books): "Yeah, totally sub-standard."
Dude 1: "Ohh man your muscles are so standard!"
Dude 2: "Yeah, they will never be Gashman material!"