Can be interpreted as a positive or negative term.
2) Damn, look at those beautiful people!
2) Originated from the "Beautiful People Letter", a form letter sent home by many "hippies" to their worrying middle-class mothers.
3) Can be derogatory in and of itself, considering that a lot of so-called "Beautiful People" are actually rich hypocrites trying to be cool.
Beautiful Person - "Oh, I was hanging out with some Beautiful People up at Yasgur's Farm."
2) "Dear Mother, I meant to write you before this and I hope you haven’t been worried, I am in (San Francisco / Los Angeles / New York / Arizona / a Hopi Indian Reservation!!!! / Ajijic / San Miguel de Allende / Mazatlan, Mexico!!!!) and it is really Beautiful here. It is a Beautiful scene. Beautiful People doing Beautiful Things."
3) How does it feel to be / One of the Beautiful People? ... Baby, You're a Rich Man.
--Baby You're a Rich Man, The Beatles