I understand it's an inside joke that's meant to stay (just like “from __future__ import braces”), but what exactly does it do?
from __future__ import braces
It's related to PEP 0401: BDFL Retirement
Barry refers to Barry Warsaw, a well-known Python developer. The from __future__ import barry_as_FLUFL basically replaces the != operator with <>.
from __future__ import barry_as_FLUFL
!=
<>
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