Monopoly money noun4 •Play money. •Money, especially paper money, that is perceived to have little or no value, or to be distributed freely. •(slang, disapproving) Banknotes of foreign currency; especially those which are vibrant or flimsy. •Money that does not exist; referring to fraudulent record keeping.They did so to conceal the fact that they were playing with Monopoly money—fabricating profits as phony as the pastel-colored money used in the classic Parker Brothers board game. — 2005