$re = '/{([^}]*)}/m';
$str = '{Billion is|Millions are|Trillion is} {an extremely |a| a generously | a very} { tiny|little |smallish |short |small} stage in a vast {galactic| |large|huge|tense|big |cosmic} {universe|Colosseum|planet|arena}';
preg_match_all($re, $str, $matches, PREG_SET_ORDER, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php