There is only 1 exact definition of "The Dream Team". And that is the 1992 Olympic Dream team composed of 10 of the 50 greatest players to ever play the game of basketball. They won games by an average of 40 points. Defeating Croatia in the gold medal game, they steamrolled each of their opponents.
Roster:
Chris Mullin
Michael Jordan
Patrick Ewing
Scottie Pippen
Karl Malone
John Stockton
David Robinson
Clyde Drexler
Charles Barkley
Larry Bird
Magic Johnson
Christian Laettner
All coached by legendary Chuck Daly
There will only be 1 team to ever be named "The Dream Team"
ayon kay flinder1282 ika-06 ng Setyembre, 2008
The F*cking best of the team not the fastest or best in practice but kill it come game time. Every one on the team is hilarious and keep the team from being a bunch of winey bitches.
Man practice sucked before we got dream team.
ayon kay W.DA.DA.M.AO ika-23 ng Pebrero, 2010
Describes a social drinking organization. Not just anyone can be a member of the dream team. In order to become a member of the dream team you must: a. be an upstanding member of society b. currently be a member of another organziation commonly referred to as "team p.o.s." c. implement the courtesy text in all appropriate occasions d. go through an extensive initation process, which includes buying rounds of shots overseen by a dream team founder e. live for fieldhouse wednesdays, big 12 triple wells, and mucho harpo's shots (all the while telling the bartender to "just make 'em taste good")f. know the exact motion of the point-and-wave... and the fact that every person who receives the point and wave is a joke to society g. "you sir/ma'am"... true meaning.

Becoming a member of the reputable Dream Team is not something that should be taken lightly. Although there are extensive requirements, the most important thing for dream teamers to live by is... if a fellow dream teamer needs you, for things such as: shots, pointing and waving, barking, courtesy text, etc., you DO IT! never leave a fellow dream teamer behind!

DREAM TEAM REPRESENT
At the bar...

Girl 1: Wow! Who are those girls?
Girl 2: Well, they're cute, dancing fabulously, and throwing back rediculous amounts of shots.
Girl 1: They all just pointed and waved too!
Girl 2: Duh... they must be members of the dream team!
ayon kay P.P. REPRESENT ika-10 ng Marso, 2009
A social group, sometimes "friends" that you hang out with because it is either them, nerds, or nobody. The members of a dream team will probably be popular or at least think they are popular. Although you hang out with them, you do not really fit in. You know that they do things all the time together, but you are almost never invited to join them. A lot of the time it is almost an honor if you do not fit in with them; if you do, then it is probably not a good thing. Sometimes people try to act like they are not part of one, but if they are in denial about it, then they are probably part of one. If you are in this situation you probably dream about what it would be like if you were included in the group, but you know that it won't actually happen. Even if you feel bad temporarily, you will have the last laugh in the end.
You- "Yeah Sis, it kind of sucks."
Sister- "What do you mean?"
You- "I know that my "friends are hanging out at the mall, and yesterday they were chilling at Kyle's house. All of them were there, but I wasn't invited."
Sister- "It doesn't really matter. You are probably part of a dream team."
You- "Maybe..."
Sister- "Trust me, it's a good thing if you don't fit in. In fact, it's a bad thing if you do fit in with them.
You- You know what, you're right!!!"
ayon kay MusicDude88 ika-31 ng Enero, 2009
Sports related term.

It is a team, which doesn't necessarily consisted of the best players, but the best team players with enough talent that the team itself is a juggernaut against opponents.

A loss would be in the most rarest in circumstances, and would be among the best of all time in sports.
1992 Olympic US Men's Basketball Team is a popular, and most known Dream Team.

The 1980 Olympic US Men's Hockey Team could be considered a Dream Team, considered that all players consisted of hand picked college players and went up against a USSR team which could be considered the best national hockey team ever.
ayon kay MadisonMushroom ika-29 ng Abril, 2007
2011 Philadelphia Eagles. Probably won't win the Super Bowl.
James Harrison: Your the dream team, well were the mean team!
ayon kay Eagles 2012 SB Champs ika-12 ng Setyembre, 2011
The five greatest people you will ever meet... All sexy beasts and will take on any imposter *ahem* ultimate team*ahem* and win. In the future they will go on to rule the world. Shout outs to Kirsty Lucy Owain Shannon and Stewart (KLOSS)
"I need to get something from my locker..."

"So go get it..."

"I can't, the dream are there and they're so cool I might die if I look at them..."

"Good point"

"Yeah they're such a dream team"
ayon kay DreamteamKLOSS ika-26 ng Nobyembre, 2014

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