Shorty is a 2000 film produced by Noontide Filmworks. The story follows Russell, a modern urban Cyrano afflicted by his lack of height (played by Andre Canty), with Michele Persley as Venus and Frank Mayers as Eric. "shorty" has screened at several film festivals in North America and has received various awards, including the HBO Short Film Award at the Acapulco Black Film Festival.

a suit with cut-off arms and legs

Wetsuit with short legs and sleeves. A "Shorty John" is a sleeveless wetsuit with short legs. See Farmer John.

a seven ounce bottle of beer

"C.R.E.A.M."(as used in this song) does mean young kid, but if you hear it in other contexts it is more widely used to mean female