$re = '/\$\{\$\{([\w-_\[\]]*?)\}\}|\$\{([\w-_\[\]]*?)\}|\$\{(((.*?)\})+)/';
$str = '
${${IP}${hi}${hello}${ab${cd}ef}${CUPM_IP}}
${LAST-NA[M]E}
${[BRACKETS]}
${CP_IM} ${b} ${1} ${} ${LAST-NAM[E]} ${12} ${34}${56} ${[BRACKETS]}
hello test b ${hg ${$} ${hello word} ${12-34_ab%}
${hg ${$}}
${${hi}}';
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