A can or bottle of beer stored in one's back pocket intended for protection and/or future consumption, usually in a party setting. see also: Double-ass beer and rear-beer
-let's peace out bro
-alright bro, I'm gonna grab an ass-beer for the road
when a bunch of fucking idiots like steve-o did in jack ass 2 have beer put into their asses, but when it come out the ass someone has to drink it, ass-beer.
often a dare to do the above
or, when you cum in a girls ass then someone drink your cum out of her ass, usually done when there are multiple partners.
'dude did you see what charlie did to dash, he drank his fuckin ass-beer.'
'dash said kai's ass-beer tasted like cum' 'thats cuz it was cum you fuckin dunce'
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.