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Basically an emphasis of for real. It comes from "fer serious" which is how people with bad grammar would say it. (Also "fo' cereal" or "fo' serious")
-Dude, I got free porn now.
-Fer cereal?! Awesome.
by Chris Leyva October 20, 2004
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means seriously or for seriously, used during sarcastic remarks and regular conversations.
(sarcastic)

"The other day Jenna was all like "I ate food for breakfast" and I was like "No. . . Fercereal?"

or

(Regular)
Lilly- "Tony and Sarah are dating!"

Kara- "No way! are you Fercerial?"
by MikkiDoodles November 24, 2010
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Tiimmy: My mom got hit by a flying magic ice cream truck with 26 legs and a robo reptar cereal box arm!!

Jimbo: are you Fer-cereal?!?!?!?!!!?
by Rawrpeople April 24, 2010
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