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Meaning the show/event has ended, this comes from the announcements that used to be made at the end of musician Elvis's concerts in order to get fans to leave the arena. Now we use this term anytime an event has ended.
Cindy: OHHHH, YEAHHH, OUUHHH, FUCK ME, CUM ON ME BABY!!!
Jacob (cums): Elvis has left the building (collapses on the floor).
by papermachete November 03, 2005
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May 14 Word of the Day
Intelligence agency term for "psychological operation". A government or corporate-sponsored operation, usually taking the form of a "terrorist attack" or "crazed gunman on a spree", with the intent of panicking the public into demanding more police and laws inhibiting freedom. Psyops are usually carried out by drugging a civilian or group of civilians with aggression-promoting drugs, psyching them up, arming them, and sending them out to commit mayhem. Government-sponsored terrorism. See also blackshirts, conspiracy
Person A: Man, that nutcase Martin Bryant guy shot 35 people in Tasmania!

Person B: No, he wasn't a nutcase, that was just a psyop so the government could have an excuse to ban guns.
by Mystikan April 11, 2006
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2
The words that appear when you kill all of the elvis impersonators in GTA2.
elivis guys: Thank you. Thank you vary much.
me: (pulls out uzi)

ELVIS HAS LEFT THE BUILDING!!!
by Is this name used? March 10, 2007
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3
When a guy's member has exited his boxer shorts by sneaking out of the flap during the night.
Sally woke up, rolled over, and looked at Frank.

It appears that Elvis has left the building, Sally thought to herself.
by Ae5Ea8 March 15, 2015
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