The multitudes of inverter-based distributed energy resources (DERs) can be envisioned as geographically distributed reactive power (var) devices (mini-SVCs) that can offer enhanced var flexibility to a future grid as an ancillary service. To facilitate this vision, a systematic methodology is proposed to construct an aggregated var capability curve of a distribution system with DERs at the substation level, analogous to a conventional bulk generator. Since such capability curve will be contingent to the operating conditions and network constraints, an optimal power flow (OPF) based approach is proposed that takes curtailment flexibility, unbalanced nature of system and coupling with grid side voltage into account along with changing operating conditions. Further, the influence of several other factors such as revised integration standard 1547 on the capability curve is thoroughly investigated on an IEEE 37 bus distribution test system. Finally, a T-D cosimulation is employed to demonstrate how DER aggregated flexibility can potentially enhance the decision domain for the transmission grid leading to improved performance.