The Dreameater's universe is a world which consits of many, many smaller worlds. Each of those smaller worlds is someone's dream, and whenever a being dreams, a new world is created. Some dreamers visit a world more than once, other create new ones every time. But in this universe, space is limited. Whenever it gets too crowded, a Dreameater appears. It's always just one at a time, so nobody knows if there is only this one, or there are more. The Dreameater is the "vacuum" of the dream world, he devours dreams so that there's more space for new ones. But even he has his limits. If the Dreameater is stuffed and has to rest, it happens that some people have to spend a night without dream, simply because there's not enough room to create one for them. Once the Dreameater is out to eat, he makes no difference between an old dream or one that is currently used. If he begins eating a new one, the dream will turn into a nightmare (given it wasn't one already). The Dreameater usually crawls on the ground like a lizard, but once he starts feeding, he stands/sits up. His mask like face always has a blank expression, the eyes on his sides can blink, but are otherwise unable to express emotion. In his normal state he sings. No words, but a sound not too different from the singing voice of a whale. If in pain, he'll let out a loud, high pitched skriek which, literally, would make a living beings ears bleed. It's said that shriek is also capable of shattering a thousand dreams. ((Pegasus is often refered to as a muse for poets and writers in general. I think the inspiration he's said to give isn't limited to writers only, but to other artists and people as well. Thus, the flying horse seemed the perfect thing to to stand for dreams, or in this case one dream, being devoured by the dream eater. And it really could be any color, not just cotton candy pink.))