A phrase used as a farewell, when the experience shared has been of unique, experimental, or strange phenomenon. Also, a manner of stating that surreal time frame has been shared between two or more peeps.
johnny; "I am outtie to AZ. Peace, it's been real."
This farewell is a truncated version of the expression "It's been real, it's been fun. Just hasn't been real fun!" It is not necessarily a slight to the person you are leaving, but more of the situation or experience that you have just shared.
While being dropped off after a car ride with a friend during which you helped him change a flat tire and ran out of gas - you turn to him and say"It's been real!"
A group of people that rolls 600 pounds deep, which is really no different than if one person acted like the 600 pound gorilla all by themself, it's just bullying spread around a group to fuck with somebody. Just like each person has an asshole, and to some degree is an asshole, a collective 600 pound gorilla has a collective asshole so that no one person has to take responsibility for being the asshole or the one who said this or that.